The city building permit agency is concerned about its future workloads. Initially, the agency thinks that it
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= 2,256 + 234.6X
sb = 23.1 Sy|x = 154 r2 = .65
The agency then uses the unemployment rate (percentage of unemployed), rather than the year, as the independent variable to predict building permits. This produces the following:
= 13,413 - 678X
sb = 21.4 Sy|x = 108 r2 = .78
Interpret each of these regressions. Predict the number of building permits that will be issued in 2015 if unemployment is 7.2%. Which of these equations is the better one from a managerial perspective?
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Related Book For
Applied Statistics For Public And Nonprofit Administration
ISBN: 9781285737232
9th Edition
Authors: Kenneth J. Meier, Jeffrey L. Brudney, John Bohte
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