Question: The linear trend equation 120 4 8x has
The linear trend equation ŷ = 120 + 4.8x has been developed, where ŷ = estimated sales (thousands of dollars) and x = 1 for the year 1999. What level of sales would be forecast for 2013; for 2015?
Answer to relevant QuestionsAn 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 ...For the data of Exercise 18.9, use the weighting constant α = 0.6 and exponential smoothing to determine the forecast for 2008. In exercise Using the MAD criterion, determine which one of the equations developed in Exercise 18.8 is the better fit to the data in that exercise. Repeat the evaluation, using the MSE criterion. In exercise Fit a linear trend equation to the following data describing average hourly earnings of U.S. production workers. What is the trend estimate for 2013? Fit a linear trend equation to these data showing the value of shipments of food products in billions of dollars. What is the trend estimate for 2015?
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