Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 18, Problem 36CE
To determine

Obtain the linear trend equation.

Obtain the non-linear trend equation.

Identify the best equation.

Estimate the net sales for 2014 and 2015.

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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

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Statistical Techniques in Business and Economics

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