Dave Fletcher, the general manager of North Carolina Engineering Corporation (NCEC), thinks that his firm's engineering services contracted to highway construction firms are directly related to the volume of highway construction business contracted with companies in his geographic area. He wonders if this is really so, and if it is. can this information help him plan his operations better by forecasting the quantity of his engineering services required by construction firms in each quarter of the year? The following table presents the sales total amounts of contracts for highway construction over the last 8 quarters: This services and Quarter Sales of NCEC Services (in $ thousands) Contracts Released (in $ thousands) 1 2 7 10 153 172 3 14 197 9-0-0 where y Dependent Variable and x = Independent Variable. . 4 9 175 5 11 182 8 16 223 6 7 13 11 205 202 a) Using the given data, the least-squares regression equation for predicting the level of demand of NCEC's services is (round your responses to two decimal places):
Dave Fletcher, the general manager of North Carolina Engineering Corporation (NCEC), thinks that his firm's engineering services contracted to highway construction firms are directly related to the volume of highway construction business contracted with companies in his geographic area. He wonders if this is really so, and if it is. can this information help him plan his operations better by forecasting the quantity of his engineering services required by construction firms in each quarter of the year? The following table presents the sales total amounts of contracts for highway construction over the last 8 quarters: This services and Quarter Sales of NCEC Services (in $ thousands) Contracts Released (in $ thousands) 1 2 7 10 153 172 3 14 197 9-0-0 where y Dependent Variable and x = Independent Variable. . 4 9 175 5 11 182 8 16 223 6 7 13 11 205 202 a) Using the given data, the least-squares regression equation for predicting the level of demand of NCEC's services is (round your responses to two decimal places):
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question

Transcribed Image Text:Dave Fletcher, the general manager of North Carolina Engineering Corporation (NCEC), thinks that his firm's
engineering services contracted to highway construction firms are directly related to the volume of highway
construction business contracted with companies in his geographic area. He wonders if this is really so, and if it is
can this information help him plan his operations better by forecasting the quantity of his engineering services
required by construction firms in each quarter of the year? The following table presents the sales of his services and
total amounts of contracts for highway construction over the last 8 quarters:
Quarter
Sales of NCEC Services (in $ thousands)
Contracts Released (in $ thousands)
1
7
153
2
10
172
3
4
14
9
197 175
9-0-0
where y Dependent Variable and x = Independent Variable.
D
5
6
13
11
202
182
7
8
11
16
205 223
a) Using the given data, the least-squares regression equation for predicting the level of demand of NCEC's services
is (round your responses to two decimal places):
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