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Derive the values for the intercept and slope. Derive the linear regression equation. Plot the linear regression line.

Derive the values for the intercept and slope. Derive the linear regression equation. Plot the linear regression line.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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The number of patients coming to the Healthy Start Maternity clinic has been increasing steadily over the past eight months. You are provided with some historical data as follows:

 

Use simple linear regression to forecast annual demand for months 9 and 10 by using the tabular method to:-

  1. Derive the values for the intercept and slope.

  2. Derive the linear regression equation.

  3. Plot the linear regression line.

COMPLETE WITHOUT THE USE OF EXCEL

 

Month 1 2 3 4 5 6 78 7 8 Clinic attendance (in thousands) 3.4 3.9 4.5 5.0 5.8 5.9 6.5 6.7
Transcribed Image Text:Month 1 2 3 4 5 6 78 7 8 Clinic attendance (in thousands) 3.4 3.9 4.5 5.0 5.8 5.9 6.5 6.7
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