Fit a linear trend equation by the method of least squares. Determine the predicted value of trend for 1982 and 1985.
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- The product of steel scrap from 1968-77 is given below:
|
Year |
1968 |
1969 |
1970 |
1971 |
1972 |
1973 |
1974 |
1975 |
1976 |
1977 |
|
Production (1000 tons) |
3255 |
3793 |
3976 |
3925 |
4122 |
4529 |
4903 |
3879 |
4251 |
4539 |
- Fit a linear trend equation by the method of least squares.
- Determine the predicted value of trend for 1982 and 1985.
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- Suppose that a regional express delivery service company wants to estimate the cost of shipping a package (Y) as a function of cargo type, where cargo type includes the following possibilities: fragile, semifragile, and durable. Costs for 15 randomly chosen packages of approximately the same weight and same distance shipped, but of different cargo types, are provided in the file P13_16.xlsx. a. Estimate a regression equation using the given sample data, and interpret the estimated regression coefficients. b. According to the estimated regression equation, which cargo type is the most costly to ship? Which cargo type is the least costly to ship? c. How well does the estimated equation fit the given sample data? How might the fit be improved? d. Given the estimated regression equation, predict the cost of shipping a package with semifragile cargo.The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?The Tech power plant burns coal and natural gas to generate steam and electricity for all campus buildings. The annual coal consumption at the plant has increased annually for the past 6 years due to an aggressive campus building program. The following table shows the annual coal consumption: Year Coal Consumption (tons) 1 25000 2 23000 3 28000 4 35000 5 37000 6 42000 Develop a linear trend model to forecast coal consumption for the 7 th year. Don't answer by pen paper and don't use chatgpt otherwise we will give dounvote
- Freight car loadings over an 18-week period at a busy port are as follows:Weeks Loadings (lbs) Weeks Loadings (lbs) Weeks Loadings (lbs) 1 370 7 415 13 450 2 380 8 425 14 455 3 390 9 435 15 475 4 380 10 425 16 485 5 390 11 435 17 495 6 395 12 445 18 505a. Determine a linear trend line for expected freight car loadings.b. Use the above trend equation to predict expected loadings for Weeks 20 & 21.c. The manager intends to install new equipment when the volume exceeds 950 loadings per week. Assuming the current trend continues, in which week…Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: 3 8 9 6 7 6 3 7 10 11 Year Year Forecast (000) 1 5 1 5 2 5 4 4 4 5 11 Registrations (000) Use exponential smoothing with a smoothing constant of 0.4 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure, assume that the forecast for year 1 was 5,000 people signing up (round your responses to one decimal place): 2 3 5 6 7 8 10 16 9 11 12 10 D 11 12 a) What is the MAD? Mean absolute deviation based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is thousand registrations (round your response to one decimal place). b) What is the MSE? The mean squared error based on the forecast developed using the exponential smoothing method (with a smoothing constant (x) = 0.4 and a starting forecast of F₁ = 5) is (round your response to two decimal…Professor Z needs to allocate time among several tasks next week to include time for students' appointments. Thus, he needs to forecast the number of students who will seek appointments. He has gathered the following data: Week Number of students6 Weeks ago 515 Weeks ago 794 Weeks ago 833 Weeks ago 892 Weeks ago 71Last Week 93 What is this week's forecast using exponential smoothing with alpha = 0.3 , if the forecast for two weeks ago was 77 ? a. 75.2 b. 78.8 c. 69.86 d. 80.54
- The number of internal disk drives (in million) made at a plant in Taiwan during the past 5 years follows: Year Disk Drives 1 142 2 156 3 184 4 204 5 210 a) Using simple linear regression the forecast for the number of disk drives to be made next year= 234.4 disk drives b) The mean squared error (mse) when using simple linear regression=[___] drives^2 (round your response to one decimal place)The number of internal disk drives (in millions) made at a plant in Taiwan during the past 5 years follows: Year Disk Drives 1 142 2 156 3 184 4 204 5 210 a) Using simple linear regression the forecast for the number of disk drives to be made next year= 234.4 disk drives b) The mean squared error when using simple linear regression = 24.64 drives2 c) The mean absolute percentage error (mape) when using simple linear regression= [___]% (round your response to 1 decimal place)The number of internal disk drives (in millions) made at a plant in Taiwan during the past 5 years follows: Year Disk Drives 1 138 2 156 3 184 4 202 220 a) Using simple linear regression, the forecast for the number of disk drives to be made next year = 211 disk drives (round your response to one decimal place). b) The mean squared error (MSE) when using simple linear regression = drives- (round your response to one decimal place). c) The mean absolute percentage error (MAPE) when using simple linear regression = % (round your response to one decimal %3D place).
- The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Number of Accidents Jan 30 Feb 48 Mar 60 Apr 90 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): ŷ = 0+0x 20Maria Exports Limited is a major garment export house based on China. The sales figures (in 1000 units) of a particular garment during the past 20 weeks are given in table below. 23.04 21.94 23.94 Week 1 23.68 2 3 4 5 6 7 8 9 10 35557548 11 12 13 14 15 16 17 18 19 20 Demand 21 24 18 22 27 23 Find the simple exponential smoothing forecast for all the 20 weeks and also forecast the demand for 21" week. Assume a = 0.2 and F₁ = 21. (Round to two decimals) 21 25 27 18 19 22 26 24 17 21 29 27 23 25The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Number of Accidents Jan 25 Feb 40 Mar 70 Apr 90 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places): ŷ=+x
