The Gallup organization periodically asks the following question: If your party nominated a generally well-qualified person for

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The Gallup organization periodically asks the following question: If your party nominated a generally well-qualified person for president who happened to be a woman, would you vote for that person? Here is a time series plot of the percentage answering €œyes€ versus the year of the (20th) century. The least squares trend line is given by: yt = 5.58 + 0.999Year, where Year = 37, 45, . . . 99 to represent the years during which the survey was given.
The Gallup organization periodically asks the following question: If your

a) The R2 for this trend line is 94%. A student decided to use this linear model to obtain a forecast for the percent who will respond €œyes€ in 2012. What value should the student use for Year?
b) Find the predicted value for the year 2012. Is it realistic?

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Business Statistics

ISBN: 9780321925831

3rd Edition

Authors: Norean Sharpe, Richard Veaux, Paul Velleman

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