STATISTICAL TECHNIQUES FOR BUSINESS AND
17th Edition
ISBN: 9781307261158
Author: Lind
Publisher: MCG/CREATE
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Chapter 18, Problem 34DA
To determine
Determine the linear trend equation.
Determine the non-linear trend equation.
Identify the best equation.
Estimate the net sales for 2016 and 2017.
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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.
= -10.711 +28.9000X₁
₁ = 22.70 +0.259X; +3.5801X?
Click the icon to view the data table.
a. Compute the standard error of the estimate (Syx) for each model.
Linear
Quadratic
Syx
22.431
8.032
(Round to three decimal places as needed.)
b. Compute the MAD for each model.
Linear
Quadratic
MAD
64.222
66.873
(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 smallest values of Syx and MAD should be used, which is the quadratic model.
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.
Y = -11.578 +28.7000X
Y₁ = 19.29 +2.241X; +3.3074X
Click the icon to view the data table.
a. Compute the standard error of the estimate (Syx) for each model.
Linear
Syx
(Round to three decimal places as needed.)
b. Compute the MAD for each model.
Linear
Quadratic
The model with the
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?
✓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
Print
Amount
(megawatts)
15
24
41
66
86
100
138
210
249
D
Done
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
Chapter 18 Solutions
STATISTICAL TECHNIQUES FOR BUSINESS AND
Ch. 18 - Prob. 1SRCh. 18 - Prob. 1ECh. 18 - Prob. 2ECh. 18 - Prob. 2SRCh. 18 - Prob. 3ECh. 18 - Prob. 4ECh. 18 - Prob. 5ECh. 18 - Prob. 6ECh. 18 - Prob. 3SRCh. 18 - Prob. 7E
Ch. 18 - Prob. 8ECh. 18 - Prob. 4SRCh. 18 - Prob. 9ECh. 18 - Prob. 10ECh. 18 - Prob. 5SRCh. 18 - Prob. 11ECh. 18 - Prob. 12ECh. 18 - Prob. 13ECh. 18 - Prob. 14ECh. 18 - Prob. 15ECh. 18 - Prob. 16ECh. 18 - Prob. 17CECh. 18 - Prob. 18CECh. 18 - Prob. 19CECh. 18 - Prob. 20CECh. 18 - Prob. 21CECh. 18 - Prob. 22CECh. 18 - Prob. 23CECh. 18 - Prob. 24CECh. 18 - Prob. 25CECh. 18 - Prob. 26CECh. 18 - Prob. 27CECh. 18 - Prob. 28CECh. 18 - Prob. 29CECh. 18 - Prob. 30CECh. 18 - Prob. 31CECh. 18 - Prob. 32CECh. 18 - Prob. 33CECh. 18 - Prob. 34DACh. 18 - Prob. 35DACh. 18 - Prob. 36DACh. 18 - Prob. 37DACh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 1.1PTCh. 18 - Prob. 1.2PTCh. 18 - Prob. 1.3PTCh. 18 - Prob. 1.4PTCh. 18 - Prob. 1.5PTCh. 18 - Prob. 1.6PTCh. 18 - Prob. 1.7PTCh. 18 - Prob. 1.8PTCh. 18 - Prob. 1.9PTCh. 18 - Prob. 1.10PTCh. 18 - Prob. 2.1PTCh. 18 - Prob. 2.2PTCh. 18 - Prob. 2.3PT
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