# Question: The Gallup organization periodically asks the following question If your

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 “yes” 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.

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 “yes” in 2012. What value should the student use for Year?

b) Find the predicted value for the year 2012. Is it realistic?

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 “yes” in 2012. What value should the student use for Year?

b) Find the predicted value for the year 2012. Is it realistic?

## Relevant Questions

The most common use of the CPI is as an economic indicator to forecast inflation and evaluate the effectiveness of government policies. Following is the time series plot for the monthly CPI (not seasonally adjusted) from ...Use the following model to forecast quarterly sales ($ 000) for a start-up (where time is rescaled to begin at zero and Q2, Q3, and Q4 are dummy variables for the indicated quarters), and answer the following questions. y = ...The plot of residuals in Exercise 41 shows an outlier that wasn’t as evident in the data. The outlier is September 2001. Clearly, this wasn’t a typical month for air travel. Here are three models fit to this series, a ...Using the data from Exercise 49 develop and compare the following models: In exercise a) Fit a regression model with just Year as the predictor. b) Add a lag1 component to the model of (a). How does it change the ...Tiffany was founded in 1837, when Charles Lewis Tiffany opened his first store in downtown Manhattan. Tiffany retails and distributes a selection of Tiffany & Co. brand jewelry at a range of prices. Today, more than 150 ...Post your question