The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs. (1994, 0.676) (1996, 0.638) (1998, 0.608) (2000, 0.584) (2002, 0.556) (2004, 0.528) (2006, 0.494) (2008, 0.461) (1995, 0.658) (1997, 0.622) (1999, 0.599) (2001, 0.568) (2003, 0.543) (2005, 0.509) (2007, 0.486) (a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear? O Yes O No (b) Use the regression feature of the spreadsheet software program to find a linear model for the data. (Let t represent time. Round your numerical values to four decimal places.) y = (c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2013. (Round your answers to two decimal places.) 2010 2013 %24 Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data. Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are not reliable. Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are reliable. Because the data follow a linear pattern, the predictions for 2010 and 2013 are not reliable. Because the data follow a linear pattern, the predictions for 2010 and 2013 are reliable.
The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs. (1994, 0.676) (1996, 0.638) (1998, 0.608) (2000, 0.584) (2002, 0.556) (2004, 0.528) (2006, 0.494) (2008, 0.461) (1995, 0.658) (1997, 0.622) (1999, 0.599) (2001, 0.568) (2003, 0.543) (2005, 0.509) (2007, 0.486) (a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear? O Yes O No (b) Use the regression feature of the spreadsheet software program to find a linear model for the data. (Let t represent time. Round your numerical values to four decimal places.) y = (c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2013. (Round your answers to two decimal places.) 2010 2013 %24 Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data. Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are not reliable. Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are reliable. Because the data follow a linear pattern, the predictions for 2010 and 2013 are not reliable. Because the data follow a linear pattern, the predictions for 2010 and 2013 are reliable.
Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter20: Queuing Theory
Section20.2: Modeling Arrival And Service Processes
Problem 3P
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Transcribed Image Text:The value y (in 1982-1984 dollars) of each dollar paid by consumers in each of the years from 1994 through 2008 in a country is represented by the ordered pairs.
(1994, 0.676)
(1996, 0.638)
(1998, 0.608)
(2000, 0.584)
(2002, 0.556)
(2004, 0.528)
(2006, 0.494)
(2008, 0.461)
(1995, 0.658)
(1997, 0.622)
(1999, 0.599)
(2001, 0.568)
(2003, 0.543)
(2005, 0.509)
(2007, 0.486)
(a) Use a spreadsheet software program to generate a scatter plot of the data. Let t = 4 represent 1994. Do the data appear linear?
O Yes
No
(b) Use the regression feature of the spreadsheet software program to find a linear model for the data. (Let t represent time. Round your numerical values to four decimal
places.)
y 3=
(c) Use the model to predict the value (in 1982-1984 dollars) of 1 dollar paid by consumers in 2010 and in 2013. (Round your answers to two decimal places.)
2010
2013
24
Discuss the reliability of your predictions based on your scatter plot and the graph of your linear model for the data.
Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are not reliable.
Because the data does not follow a linear pattern, the predictions for 2010 and 2013 are reliable.
Because the data follow a linear pattern, the predictions for 2010 and 2013 are not reliable.
Because the data follow a linear pattern, the predictions for 2010 and 2013 are reliable.
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