Address the issue of extrapolation and using regression equations to forecast far into the future. Explain the

Fantastic news! We've Found the answer you've been seeking!

Question:

Address the issue of extrapolation and using regression equations to forecast far into the future. Explain the dangers of extrapolation from an accuracy standpoint and an ethical viewpoint. Use Biblical principles where appropriate.

Related Book For answer-question

Economics

ISBN: 978-0273721307

7th edition

Authors: John Sloman, Alison Wride

See More Books

Posted Date: Oct 03, 2018 01:17 AM

See More Questions

Why might efforts to address the issue of global warming be hampered by a lack of understanding of probability amongst the general public?
Does the AMA Statement of Ethics address the issue of environmental protection in supply chain management? Go to www.marketingpower.com and review the statement. Then, write a business memo to the...
Use linear regression to forecast values for periods 11 to 13 for the following timeseries. Period1 2 3 4 5 6 7 8 9 10 Observation 121 133 142 150 159 167 185 187 192 208
Using quarterly data for 10 years, the regression results are given in the following table where CAR = number of new car sales per thousand population, PRICE = new car price index, INC= per-capita...
State whether each of the following is an odd function, an even function, or neither. Prove your statements. (a) The sum of two even functions (b) The sum of two odd functions (c) The product of two...
The dielectric of a parallel plate capacitor is to be a slab of glass that completely fills the volume between the plates. The area of each plate is 0.50 m2. (a) What thickness should the glass have...
Estimate the total bare-module cost for installation of nine $600-\mathrm{Hp}$ centrifugal compressors of carbon steel with explosion-proof electric motors, a stainless steel direct-heat rotary...
At Beloit Company, prepayments are debited to expense when paid, and unearned revenues are credited to revenue when cash is received. During January of the current year, the following transactions...
Crane reported the following results from the sale of 5000 units in May: sales $300000, variable costs $165000, fixed costs $65000, and net income $70000. Assume that Crane increases its selling...
Table 1.0: List Price, Sale Price and Days to Sell ApartmentsBlue Apartments Red ApartmentsList Price Sale Price Days to Sell List Price Sale Price Days to Sell1 495.0 475.0 130 217.0 217.0 1822...
Your organization is considering investing $200,000 in a new piece of equipment that will allow for the production of a new product line. This product line is anticipated to result in the following...
Write short note function prototype, accessing function and utility function. Explain Features of the Object Oriented programming.
The US Treasuries had the following term structure of annual interest rates on February 17, 2023: 1 Mo 2 Mo 3 Mo 4 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 7 Yr 10 Yr 20 Yr 30 Yr 4.64 4.81 4.84 4.95 4.99 5.00...
Background For many, Easter is a time for receiving chocolate eggs. Large ones, small ones, solid ones, hollow ones, filled ones. Dark chocolate ones, milk chocolate ones, white chocolate ones....
The Internet has become an extremely valuable business tool, but its also a huge distraction for workers on the job. Employees are wasting valuable company time by surfing inappropriate websites...
Lupe paid the following expenses during December 2020 for her son David's spring 2021 college expenses. The semester begins in February 2021. Tuition $ 16,000 Housing 6,000 Meal plan 2,500 David is...
In January 2022, Company Monash's stock is traded at $150. The following table provides the premiums of March, April, and May maturity options with different strike prices on Company Monash's...
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
Dove brand currently has 3 communication objectives for their brand. -increase brand awareness within target audience in the next six months. -Customer satisfaction surveys for increased brand of...
Think of two things that are provided free of charge. In each case, identify whether and in what form a shortage might occur. In what ways are/could these shortages be dealt with? Are they the best...
What policy measures could the government adopt to prevent the exchange rate movements in question 11?
Do behavioral theories of the firm allow us to make any predictions about firms prices and output?
Try to identify the class in the stable design pattern for culture.
Try to connect those classes together to form a class diagram.
Consider a scenario where your laptop has stopped working and you take it to a repair center. The vendor asks for a huge sum of money, but you negotiate with him the price for repair. Create a class...

Address the issue of extrapolation and using regression equations to forecast far into the future. Explain the

Question:

Expert Answer:

Regression model analysis as a very valuable tool used in statistical analysis mainly because it allows researchers to predict or regress variables of a given dataset Regression analysis is a method u... View the full answer

Economics

Students also viewed these sociology questions