The Port of Halifax is considering an expansion of its container terminal. The port has experienced the
Question:
The Port of Halifax is considering an expansion of its container terminal. The port has experienced the following container throughput during the past 12 years, expressed as TEUs (i.e., 20 feet equivalent units, a standard unit of measure for containers).
Year TEUs (1000s)
1 .............................................................. 526.1
2 .............................................................. 549.4
3 .............................................................. 606.0
4 .............................................................. 627.0
5 .............................................................. 695.7
6 .............................................................. 734.9
7 .............................................................. 761.1
8 .............................................................. 845.4
9 .............................................................. 1021.1
10 ............................................................. 1137.1
11 ............................................................. 1173.6
12 ............................................................. 1233.4
a. Develop a linear trend line forecast for these data and fore-cast the number of TEUs for the next year.
b. How strong is the linear relationship for these data?
Step by Step Answer:
Operations Management Creating Value Along the Supply Chain
ISBN: 978-1118301173
1st Canadian Edition
Authors: Roberta S. Russell, Bernard W. Taylor, Ignacio Castillo, Navneet Vidyarthi