An appliance repair shop owner has fitted the quadratic trend equation ŷ = 90 + 0.9x + 3x2 to a time series of annual repair orders, with y = the number of repair orders and x = 1 for 2005. Forecast the number of repair orders for 2013; for 2015.
Answer to relevant QuestionsBased on annual truck rentals over the years, a rental firm has developed the quadratic trend equation ŷ = 450 + 20x + 7.2x2, with x = 1 for 2005. Forecast y for 2013; for 2015. If a time series is such that sales are consistently increasing from one year to the next, will exponential smoothing tend to produce forecasts that are (a) over or (b) under the sales that are actually realized for the ...What is the Durbin-Watson test for autocorrelation, and how can it be useful in evaluating the relevance of a given regression model that has been fitted to a set of time series data? According to the Investment Company Institute, the number of U.S. mutual shareholder accounts (millions) were as shown in the table for years 1990 (coded as t = 1) through 2007. Construct a second-order autoregressive ...Given the time series in Exercise 18.59, and using exponential smoothing with α = 0.7, what would have been the forecast for 2008? In exercise
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