Hot Spot is a firm based in the United States whose core business is the maintenance of home heaters. The company usually forecasts service requests on the basis of the number of installed heaters. The number of installed home heaters and the number of service requests received over past years in New Jersey are reported:

Year Services requests

1. 18,672
2. 19,076
3. 20,994
4. 23,249
5. 25,025
6. 28,111
7. 30,985
8. 33,397

Develop the four forecasting models and determine which the best model to project year 9 is?

Answer rating: 100% (QA)

Single regression and multiple regression are as follows Multiple regression i... View the full answer