Question: Use regression analysis to fit a linear trend model to the data set. a. What is the estimated regression function? b. Interpret the R2 value

Use regression analysis to fit a linear trend model to the data set.

a. What is the estimated regression function?

b. Interpret the R2 value for your model.

c. Prepare a line graph comparing the linear trend predictions against the original data.

d. What are the forecasts for the next two years using this technique?

e. Fit a quadratic trend model to these data. What is the estimated regression function?

f. Compare the adjusted-R2 value for this model to that of the linear trend model. What is implied by this comparison?

g. Prepare a line graph comparing the quadratic trend predictions against the original data.

h. What are the forecasts for the next two years using this technique?

i. If you had to choose between the linear and quadratic trend models, which would you use? Why?

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