The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Mar Feb 40 Jan Apr Number of Accidents 30 60 95 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places):

The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months: Month Mar Feb 40 Jan Apr Number of Accidents 30 60 95 Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places):

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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Question

Please answer the question attached below! Thanks!

Instructor Tip
For months Jan, Feb, Mar, Apr and May, use 1, 2, 3, 4 and 5
respectively.

The following gives the number of accidents that occurred on Florida State Highway 101 during the last 4 months:
Month
Jan
Feb
Mar
Apr
Number of Accidents
30
40
60
95
Using the least-squares regression method, the trend equation for forecasting is (round your responses to two decimal places):
+
Definition
This approach results in a straight line that minimizes the sum of the squares of the
vertical differences or deviations from the line to each of the actual observations.
A least-squares line is described in terms of its y-intercept (the height at which it
intercepts the y-axis) and its expected change (slope).

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