STATISTICS F/BUS.+ECON.-ACCESS(24WKS.)
13th Edition
ISBN: 9780134596839
Author: MCCLAVE
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Videos
Textbook Question
Chapter 14.6, Problem 14.37ACI
US school enrollments. The next table reports annual U S school enrollment (in thousands) for the period 1990-2014.
a. Use the 1990 to 2011 enrollments and simple exponential smoothing to forecast the 2012-2014 school enrollments. Use w = .8. 78,862.5
b. Use Holt’s method with w = .8 and v = .7 to forecast the 2012-2014 enrollments.
c. Apply the MAD, MAPE, and RMSE criteria to evaluate the two forecasting models of parts a and b. Which model is better? Why?
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Let Y be a continuous RV with PDF
otherwise
Find the CDF, Fry), of Y .
Find an expression for pth, p € (0, 1), quantile of the distribution.
Find E(Y) and V(Y).
Find E(-2Y + 1) and V(-3Y - 2).
Find E(Y3).
Let X be a continuous RV with CDF
Find P(X < 0), P(-1 < X < 1) and P(0.5 < X).
Based on your answers to the above questions, what is the median of the distribu-tion? Why
Find the PDF, fx (x), of X.
A survey of 581 citizens found that 313 of them favor a new bill introduced by the city. We want to find a 95% confidence interval for the true proportion of the population who favor the bill. What is the lower limit of the interval? Enter the result as a decimal rounded to 3 decimal digits. Your Answer:
Chapter 14 Solutions
STATISTICS F/BUS.+ECON.-ACCESS(24WKS.)
Ch. 14.1 - Explain in words how to construct a simple index.Ch. 14.1 - Explain in words how to calculate the following...Ch. 14.1 - Explain in words the difference between Laspeyres...Ch. 14.1 - The table below gives the prices for three...Ch. 14.1 - Refer to Exercise 14.4. The next table gives the...Ch. 14.1 - Annual median family income. The table below lists...Ch. 14.1 - Annual U.S. craft beer production. While overall...Ch. 14.1 - Quarterly single-family housing starts. The...Ch. 14.1 - Spot price of natural gas. The table shown in the...Ch. 14.1 - Employment in farm and nonfarm categories....
Ch. 14.1 - GOP personal consumption expenditures. The gross...Ch. 14.1 - GDP personal consumption expenditures (contd)....Ch. 14.1 - Weekly earnings for workers. The table in the next...Ch. 14.1 - Production and price of metals. The level or price...Ch. 14.2 - Describe the effect of selecting an exponential...Ch. 14.2 - A monthly time series is shown in the table to the...Ch. 14.2 - Annual U.S. craft beer production. Refer to the...Ch. 14.2 - Foreign fish production. Overfishing and pollution...Ch. 14.2 - Yearly price of gold. The price of gold is used by...Ch. 14.2 - Personal consumption in transportation. There has...Ch. 14.2 - OPEC crude oil imports. The data in the table...Ch. 14.2 - SP 500 Stock Index. Standard Poors 500 Composite...Ch. 14.5 - How does the choice of the smoothing constant w...Ch. 14.5 - Refer to Exercise 14.4 (p. 14-9). The table with...Ch. 14.5 - Annual U.S. craft beer production. Refer to...Ch. 14.5 - Quarterly single-family housing starts. Refer to...Ch. 14.5 - Consumer Price Index. The CPI measures the...Ch. 14.5 - OPEC crude oil imports. Refer to the annual OPEC...Ch. 14.5 - SP 500 Stock Index. Refer to the quarterly...Ch. 14.5 - SP 500 Stock Index (contd). Refer to Exercise...Ch. 14.5 - Monthly gold prices. The fluctuation of gold...Ch. 14.6 - Annual U.S. craft beer production. Refer to the...Ch. 14.6 - Annual U.S. craft beer production (contd). Refer...Ch. 14.6 - SP 500 Stock Index. Refer to your exponential...Ch. 14.6 - SP 500 Stock Index (contd). Refer to your Holt...Ch. 14.6 - Monthly gold prices. Refer to the monthly gold...Ch. 14.6 - US school enrollments. The next table reports...Ch. 14.8 - The annual price of a finished product (in cents...Ch. 14.8 - Retail sales in Quarters 14 over a 10-year period...Ch. 14.8 - What advantage do regression forecasts have over...Ch. 14.8 - Mortgage interest rates. The level at which...Ch. 14.8 - Price of natural gas. Refer to Exercise 14.9 (p....Ch. 14.8 - A gasoline tax on carbon emissions. In an effort...Ch. 14.8 - Predicting presidential elections. Researchers at...Ch. 14.8 - Life insurance policies in force. The table below...Ch. 14.8 - Graphing calculator sales. The next table presents...Ch. 14.8 - Prob. 14.47ACICh. 14.9 - Define autocorrelation. Explain why it is...Ch. 14.9 - For each case, indicate the decision regarding the...Ch. 14.9 - What do the following Durbin-Watson statistics...Ch. 14.9 - Company donations to charity. Refer to the Journal...Ch. 14.9 - Forecasting monthly car and truck sales. Forecasts...Ch. 14.9 - Predicting presidential elections. Refer to the...Ch. 14.9 - Mortgage interest rates. Refer to the data on...Ch. 14.9 - Price of natural gas. Refer to the annual data on...Ch. 14.9 - Life insurance policies in force. Refer to the...Ch. 14.9 - Modeling the deposit share of a retail bank....Ch. 14 - Insured Social Security workers. Workers insured...Ch. 14 - Insured Social Security workers (contd). Refer to...Ch. 14 - Retail prices of food items. In 1990, the average...Ch. 14 - Demand for emergency room services. With the...Ch. 14 - Mortgage interest rates. Refer to the annual...Ch. 14 - Price of Abbott Labs stock. The yearly closing...Ch. 14 - Price o f Abbott Labs stock (contd). Refer to...Ch. 14 - Prob. 14.65ACICh. 14 - Prob. 14.66ACICh. 14 - Quarterly GOP values (contd). Refer to Exercise...Ch. 14 - Prob. 14.68ACICh. 14 - Prob. 14.69ACICh. 14 - Prob. 14.70ACICh. 14 - IBM stock prices. Refer to Example 14.1 (p. 14-5)...Ch. 14 - Prob. 14.72ACI
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Similar questions
- Let X be a continuous RV with PDF where a > 0 and 0 > 0 are parameters. verify that f-∞ /x (x)dx = 1. Find the CDF, Fx (7), of X.arrow_forward6. [20] Let X be a continuous RV with PDF 2(1), 1≤x≤2 fx(x) = 0, otherwisearrow_forwardA survey of 581 citizens found that 313 of them favor a new bill introduced by the city. We want to find a 95% confidence interval for the true proportion of the population who favor the bill. What is the lower limit of the interval? Enter the result as a decimal rounded to 3 decimal digits. Your Answer:arrow_forward
- A survey of 581 citizens found that 313 of them favor a new bill introduced by the city. We want to find a 95% confidence interval for the true proportion of the population who favor the bill. What is the lower limit of the interval? Enter the result as a decimal rounded to 3 decimal digits. Your Answer:arrow_forward2. The SMSA data consisting of 141 observations on 10 variables is fitted by the model below: 1 y = Bo+B1x4 + ẞ2x6 + ẞ3x8 + √1X4X8 + V2X6X8 + €. See Question 2, Tutorial 3 for the meaning of the variables in the above model. The following results are obtained: Estimate Std. Error t value Pr(>|t|) (Intercept) 1.302e+03 4.320e+02 3.015 0.00307 x4 x6 x8 x4:x8 x6:x8 -1.442e+02 2.056e+01 -7.013 1.02e-10 6.340e-01 6.099e+00 0.104 0.91737 -9.455e-02 5.802e-02 -1.630 0.10550 2.882e-02 2.589e-03 11.132 1.673e-03 7.215e-04 2.319 F) x4 1 3486722 3486722 17.9286 4.214e-05 x6 1 14595537 x8 x4:x8 x6:x8 1 132.4836 < 2.2e-16 1045693 194478 5.3769 0.02191 1 1198603043 1198603043 6163.1900 < 2.2e-16 1 25765100 25765100 1045693 Residuals 135 26254490 Estimated variance matrix (Intercept) x4 x6 x8 x4:x8 x6:x8 (Intercept) x4 x6 x8 x4:x8 x6:x8 0.18875694 1.866030e+05 -5.931735e+03 -2.322825e+03 -16.25142055 0.57188953 -5.931735e+03 4.228816e+02 3.160915e+01 0.61621781 -0.03608028 -0.00445013 -2.322825e+03…arrow_forwardIn some applications the distribution of a discrete RV, X resembles the Poisson distribution except that 0 is not a possible value of X. Consider such a RV with PMF where 1 > 0 is a parameter, and c is a constant. (a) Find the expression of c in terms of 1. (b) Find E(X). (Hint: You can use the fact that, if Y ~ Poisson(1), the E(Y) = 1.)arrow_forward
- Suppose that X ~Bin(n,p). Show that E[(1 - p)] = (1-p²)".arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
- This exercise is based on the following data on four bodybuilding supplements. (Figures shown correspond to a single serving.) Creatine(grams) L-Glutamine(grams) BCAAs(grams) Cost($) Xtend(SciVation) 0 2.5 7 1.00 Gainz(MP Hardcore) 2 3 6 1.10 Strongevity(Bill Phillips) 2.5 1 0 1.20 Muscle Physique(EAS) 2 2 0 1.00 Your personal trainer suggests that you supplement with at least 10 grams of creatine, 39 grams of L-glutamine, and 90 grams of BCAAs each week. You are thinking of combining Xtend and Gainz to provide you with the required nutrients. How many servings of each should you combine to obtain a week's supply that meets your trainer's specifications at the least cost? (If an answer does not exist, enter DNE.) servings of xtend servings of gainzarrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forwardI need help with this problem and an explanation of the solution for the image described below. (Statistics: Engineering Probabilities)arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw Hill
College Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
Algebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:Cengage
Trigonometry (MindTap Course List)TrigonometryISBN:9781337278461Author:Ron LarsonPublisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin Harcourt
Glencoe Algebra 1, Student Edition, 9780079039897...
Algebra
ISBN:9780079039897
Author:Carter
Publisher:McGraw Hill
College Algebra (MindTap Course List)
Algebra
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:9781133382119
Author:Swokowski
Publisher:Cengage
Trigonometry (MindTap Course List)
Trigonometry
ISBN:9781337278461
Author:Ron Larson
Publisher:Cengage Learning
Big Ideas Math A Bridge To Success Algebra 1: Stu...
Algebra
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:Houghton Mifflin Harcourt
Time Series Analysis Theory & Uni-variate Forecasting Techniques; Author: Analytics University;https://www.youtube.com/watch?v=_X5q9FYLGxM;License: Standard YouTube License, CC-BY
Operations management 101: Time-series, forecasting introduction; Author: Brandoz Foltz;https://www.youtube.com/watch?v=EaqZP36ool8;License: Standard YouTube License, CC-BY