Question: The Economic Report to the President of the United States
The “Economic Report to the President of the United States” included data on the amounts of manufacturers’ new and unfilled orders in millions of dollars. Shown here are the figures for new orders over a 21-year period. Use a computer to develop a regression model to fit the trend effects for these data. Use a linear model and then try a quadratic model. How well does either model fit thedata?
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