Question: Do Not answer this. there is a mistake its a statistic question Your company has asked you to determine if there are any trends in
Do Not answer this. there is a mistake
its a statistic question
Your company has asked you to determine if there are any trends in the cost of operating the shipping department. You have put all the available information together for the past few years in the following table: Year Cost (in thousands $) 2005 4.7 2007 2008 2009 2010 | 2011 | 5.97 7.2 8.55 9.3 18.5 You notice that there is a good trend up until last year when operation costs jumped. Find (and report) the Regression Equation both with and without the year 2011. Be sure to also report the correlation coefficient and the coefficient of determination for each line. Explain what these coefficients are telling you about the situation. Which trend line seems to work better? Would you eliminate the data point for 2011 when reporting the results to your manager? Explain why or why not. Your company has asked you to determine if there are any trends in the cost of operating the shipping department. You have put all the available information together for the past few years in the following table: Year Cost (in thousands $) 2005 4.7 2007 2008 2009 2010 | 2011 | 5.97 7.2 8.55 9.3 18.5 You notice that there is a good trend up until last year when operation costs jumped. Find (and report) the Regression Equation both with and without the year 2011. Be sure to also report the correlation coefficient and the coefficient of determination for each line. Explain what these coefficients are telling you about the situation. Which trend line seems to work better? Would you eliminate the data point for 2011 when reporting the results to your manager? Explain why or why not
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