1. Find the forecasting results based on each year (1991-1995) using the simple linear regression. 2. Find the forecasting results based on each year using the overall average (1991- 1995). 3. Calculate the MSE for each forecasting and for each method, and explain which

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Find the following for the following data
1. Find the forecasting results based on each year (1991-1995) using the simple
linear regression.
2. Find the forecasting results based on each year using the overall average (1991-
1995).
3. Calculate the MSE for each forecasting and for each method, and explain which
forecasting is the best.
4. Calculate the Theil's U-Statistic for each forecasting, and explain which
forecasting is the best.
5. Compare 3 and 4 above.
6. Interpret the results.
Transcribed Image Text:1. Find the forecasting results based on each year (1991-1995) using the simple linear regression. 2. Find the forecasting results based on each year using the overall average (1991- 1995). 3. Calculate the MSE for each forecasting and for each method, and explain which forecasting is the best. 4. Calculate the Theil's U-Statistic for each forecasting, and explain which forecasting is the best. 5. Compare 3 and 4 above. 6. Interpret the results.
January
september
october
November
December
1991
164
148
152
144
155 129
125
131
153
146
138
1१०
192
192
1992
147
133
163
150
145
137
138
168
176
188
1993
139
143
150
154
137
129
128
140
138
151
177
184
1994
151
134
164
126
131
125
127
143
143
160
190
182
1995
138
136
152
127
151
130
19
153
140
151
194
1१०
Transcribed Image Text:January september october November December 1991 164 148 152 144 155 129 125 131 153 146 138 1१० 192 192 1992 147 133 163 150 145 137 138 168 176 188 1993 139 143 150 154 137 129 128 140 138 151 177 184 1994 151 134 164 126 131 125 127 143 143 160 190 182 1995 138 136 152 127 151 130 19 153 140 151 194 1१०
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