The accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through below. -9.689+28.8667X, Y=21.02 +2.546X, +3.2900X² Click the icon to view the data table. a. Compute the standard error of the estimate (Syx) for each model. Linear Quadratic Syx 0 (Round to three decimal places as needed.) b. Compute the MAD for each model. Quadratic Linear MAD □ (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? The model with the values of Syx and MAD should be used, which is the model. Yearly Amount of Solar Power Installed Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 Amount (megawatts) 13 30 44 73 86 95 145 214 252 Print O Done X

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The accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d)
below.
Y₁ = -9.689 +28.8667X₁
Y₁ = 21.02 +2.546X; +3.2900X²
Click the icon to view the data table.
a. Compute the standard error of the estimate (Syx) for each model.
Linear
Quadratic
Syx
(Round to three decimal places as needed.)
b. Compute the MAD for each model.
Linear
Quadratic
MAD
(Round to three decimal places as needed.)
c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select?
The model with the
✔values of Syx and MAD should be used, which is the
▼model.
Yearly Amount of Solar Power Installed
Year
2000
2001
2002
2003
2004
2005
2006
2007
2008
Amount
(megawatts)
13
30
44
Print
73
86
95
145
214
252
Q
Done
X
Transcribed Image Text:The accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d) below. Y₁ = -9.689 +28.8667X₁ Y₁ = 21.02 +2.546X; +3.2900X² Click the icon to view the data table. a. Compute the standard error of the estimate (Syx) for each model. Linear Quadratic Syx (Round to three decimal places as needed.) b. Compute the MAD for each model. Linear Quadratic MAD (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? The model with the ✔values of Syx and MAD should be used, which is the ▼model. Yearly Amount of Solar Power Installed Year 2000 2001 2002 2003 2004 2005 2006 2007 2008 Amount (megawatts) 13 30 44 Print 73 86 95 145 214 252 Q Done X
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