The Port of Savannah is considering an expansion of its container terminal. The port has experienced the following container throughput during the past 12 years, expressed as TEUs (i.e., 20-foot equivalent units, a standard unit of measure for containers): Year TEUs (1,000s) 1 526.1 2 549.4 3 606.0 4 627.0 5 695.7 6 734.9 7 761.1 8 845.4 9 1,021.1 10 1,137.1 11 1,173.6 12 1,233.4 a. Develop a linear trend line forecast for these data and forecast the number of TEUs for year 13. b. How strong is the linear relationship for these data?
The Port of Savannah is considering an expansion of its container terminal. The port has experienced the following container throughput during the past 12 years, expressed as TEUs (i.e., 20-foot equivalent units, a standard unit of measure for containers): Year TEUs (1,000s) 1 526.1 2 549.4 3 606.0 4 627.0 5 695.7 6 734.9 7 761.1 8 845.4 9 1,021.1 10 1,137.1 11 1,173.6 12 1,233.4 a. Develop a linear trend line forecast for these data and forecast the number of TEUs for year 13. b. How strong is the linear relationship for these data?
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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The Port of Savannah is considering an expansion of its container terminal. The port has experienced
the following container throughput during the past 12 years, expressed as TEUs (i.e.,
20-foot equivalent units, a standard unit of measure for containers):
Year TEUs (1,000s)
1 526.1
2 549.4
3 606.0
4 627.0
5 695.7
6 734.9
7 761.1
8 845.4
9 1,021.1
10 1,137.1
11 1,173.6
12 1,233.4
a. Develop a linear trend line
year 13.
b. How strong is the linear relationship for these data?
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