How do I construct a time series plot and determine pattern of data?What formula do I use for regression analysis to find the parameters for the line that minimizes MSE for this time series? ### Manufacturing Cost AnalysisThe president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years.#### Cost per Unit Data| Year | Cost/Unit ($) | Year | Cost/Unit ($) ||------|---------------|------|---------------|| 1 | 20.00 | 5 | 26.60 || 2 | 24.50 | 6 | 30.00 || 3 | 28.20 | 7 | 31.00 || 4 | 27.50 | 8 | 36.00 |#### Analysis Tasksa) **Construct a time series plot:** - What type of pattern exists in the data?b) **Use regression analysis:** - Find the parameters for the line that minimizes the Mean Squared Error (MSE) for this time series.c) **Determine the average cost increase:** - What is the average cost increase that the firm has been realizing per year?d) **Estimate future costs:** - Compute an estimate of the cost per unit for next year. The data presented shows a general upward trend in cost per unit over the years, indicating a rise in manufacturing expenses. Further analysis may reveal specific patterns or influencing factors.

The question is about time series analysis.Given :To find :a ) Time series plot and type of patternb…

2) The president of small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 2 24.50 6 3 28.20 7 4 27.50 8 26.60 30.00 31.00 36.00 a) Construct a time series plot. What type of pattern exists in the data? b) Use regression analysis to find the parameters for the line that minimizes MSE for this time series. c) What is the average cost increase that the firm has been realizing per year? d) Compute an estimate of the cost/unit for next year.

2) The president of small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 2 24.50 6 3 28.20 7 4 27.50 8 26.60 30.00 31.00 36.00 a) Construct a time series plot. What type of pattern exists in the data? b) Use regression analysis to find the parameters for the line that minimizes MSE for this time series. c) What is the average cost increase that the firm has been realizing per year? d) Compute an estimate of the cost/unit for next year.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Q1/ A sample of 6 beams was selected the value of their deflections (x variable) and their weight is demonstrated in the following table. Find the regression equation and what is the predicted weight when deflection is Sequence your name in the list. Serial no. Def. (x) Weight (y) 1 7 12 8 8 12 4 5 10 5 6 11 9 13
A researcher interested in explaining the level of foreign reserves for the country of Barbados estimated the following multiple regression model using yearly data spanning the period 2001 to 2016: FR=a+B0IL+YEXP+8FDI Where FR = yearly foreign reserves ($000°s), OIL = annual oil prices, EXP = yearly total exports ($000's) and FDI = annual foreign direct investment ($000`s). The sample of data was processed using MINITAB and the following is an extract of the output obtained: Predictor Coef StDev t-ratio p-value Constant 5491.38 2508.81 2.1888 0.0491 OIL 85.39 18.46 4.626 0.0006 EXP -377.08 112.19 0.0057 FDI -396.99 160.66 -2.471 ** s = 2.45 R-sq = 96.3% R-sq (adj) = 95.3% Analysis of Variance Source DF MS F Regression 1991.31 663.77 ?? Error 12 77.4 6.45 Total 15 d) Hence test whether ß is significant. Give reasons for your answer. e) Perform the F Test making sure to state the null and alternative hypothesis. f) Given an interpretation of the term “R-sq“ and comment on its value.
Identify two ways in which multiple regression and logistic regression are similar; and two ways in which they differ.
Define Regression Methods?
I recently asked this question and was wondering if you could show me how to do it, not just putting it in a caculator or excel but written out equations and seeing my information plugged in so I can understand. Thank you. Calculate the simple linear regression to determine if the amount of time spent on homework can be predicted by amount of sleep. Graph the relationship and determine, numerically, if there are any outliers. Interpret all results in a paragraph citing the appropriate statisitcs.
The number of new contributors to a public radio station's annual fund drive over the last ten years is 170, 168, 165, 172, 178, 180, 175, 185, 180, 188 Develop a trend equation (regression equation) for this information and use it to predict period 11's number of new contributors. What is the R square value? What does R square signify?
(d) If the life expectancy is increased by 3.5 years in a certain country, how much will the happiness index change? Round to two decimal places. (e) Use the regression line to predict the happiness index of a country with a life expectancy of 84 years. Round to two decimal places.
Show the best fitted line on scatter diagram and Find the predicted value for each y using the exposure time and the equation obtained in part b (b. Find the equation of regression line between radiation doses on exposure time .usingleast square method)
A family would like to build a linear regression equation to predict the amount of grain harvested per acre of landon their farm. They subdivide their land into several smaller plots of land for testing and would like to select anexplanatory variable they can control. Which of the following is an appropriate explanatory variable that the familycould use to create a linear regression equation? (A) (B) (C) (D) (E) The total amount of rainfall recorded at their farmThe type of crop planted in the plot the previous yearThe average daily temperature at their farmThe variety of grain planted in the plotThe amount of fertilizer applied to each plot of land Why is it that the correct answer is letter E? Why not D? Please explain to me the reason for other choices to be wrong. Thanks!
What is C,D and E? And how do i calculate it??
A researcher interested in explaining the level of foreign reserves for the country of Barbados estimated the following multiple regression model using yearly data spanning the period 2001 to 2016: FR=a+B0IL+YEXP+8FDI Where FR = yearly foreign reserves ($000°s), OIL = annual oil prices, EXP = yearly total exports ($000's) and FDI = annual foreign direct investment ($000`s). The sample of data was processed using MINITAB and the following is an extract of the output obtained: Predictor Coef StDev t-ratio p-value Constant 5491.38 2508.81 2.1888 0.0491 OIL 85.39 18.46 4.626 0.0006 EXP -377.08 112.19 0.0057 FDI -396.99 160.66 -2.471 ** s = 2.45 R-sq = 96.3% R-sq (adj) = 95.3% Analysis of Variance Source DF MS F Regression 1991.31 663.77 ?? Error 12 77.4 6.45 Total 15 a) What is dependent and independent variables? b) Fully write out the regression equation
In Step 2: Construct an estimated simple linear regression model how did you come up with the column X*X ?