If the least squares equation for a company time series starting in 2011 and ending in 2018 is Ŷ = 12.5 + 1.87t (in millions), what is the t and estimate for 2023?
The estimate starts with 2011 so t = 0 for 2011. Hence,
For 2023, t = 2023 - 2011 = 12
Also,
Estimate for 2023 = 12.5 + 1.87*12 = 34.94 millions
If the least squares equation for a company time series starting in 2011 and ending in...
3. (40 points) Use the graph, an output of the least squares prediction equation for the starting salary data (in thousands of dollars) given a graduated student's cumulative GPA, and the table of sampled data below to do the following Student ID GPA(x) 3.26 Starting Salary (y) 33.8 2.60 29.8 3.35 33.5 2.86 30.4 3.82 36.4 2.21 27.6 3.47 35.3 Regression Plot Y= 14.8156 + 5.70657x R-Sq 0.977 寸 853 4.0 2.0 2.5 3.0 3.5 GPA (a) Identify and interpret...
Method of Least Squares, Evaluation of Cost Equation Lassiter Company used the method of least squares to develop a cost equation to predict the cost of moving materials. There were 80 data points ft the regression, and the following computer output was generated: Intercept $19,050 Slope Coefficient of correlation 0.91 Standard error $220 The activity driver used was the number of moves. Required: 1. What is the cost formula? 2. Using the cost formula, predict the cost of moving materials...
Define and discuss "least-squares criterion" giving detailed computations for finding the equation of the least squares line and the coefficient of determination. What does coefficient of determination tell you about explained variation of y in a random sample of data pairs (x, y) ?
Find the required linear model using least-squares regression. The following table shows the number of operating federal credit unions in a certain country for several years. Year 2011 2012 2013 2014 2015 Number of federal credit 4488 unions 4316 4150 3976 3809 (a) Find a linear model for these data with x = 11 corresponding to the year 2011. (b) Assuming the trend continues, estimate the number of federal credit unions in the year 2018. (a) The linear model for...
A statistical program is recommended. milligns) from 2004 through 2011 follows The number of users of a certain website Year Period Users (Millions) 2004 1 1 2005 2 1: 2006 2007 14- 2008 2009 361 2010 608 2011 846 ()Construct time series plot. 900- 900 T 900 900 eo. 0 600- 600 600- 600 400. 300- 300 3on a00 100 10n 04 0- 0- 10 6 4 10 6 4 Perkod Period Period Period What type of pattern exists? upward...
a) Obtain the equation of the least squares line. b) Calculate the coefficient of determination. c) Calculate an estimate of the error standard deviation (sigma) in the simple linear regression model. Your T For the past decade, rubber powder has been used In asphalt cement to improve performance. An article Includes a (MPa) on x - cube strength (MPa) based on the following sample data regression of y-axial strength x112.3 97.0 92.7 86.0 102.0 99.2 95.8 103.5 89.0 86.7 y|...
Method of Least Squares, Budgeted Time Period Is Different from Time Period Used to Generate Results The method of least squares was used to develop a cost equation to predict the cost of receiving purchased parts at a video game manufacturer. Ninety-six data points from monthly data were used for the regression. The following computer output was received: Intercept 147,400 Slope 210 The cost driver used was number of parts inspected. Required: 1. What is the cost formula for a...
A. (In picture) B. Determine least squares regression equation from sample data. C. Are there any outliers or influential observations? D. Assume the residuals are normally distributed, test whether a linear relation exists between age and hdl levels at the 0.01 level of significance. E. What is the p-value? F. Reject null hypothesis? Why or why not? G. Lower bound? Upper bound? H. Good estimate for hdl cholesterol level of 42 year old male patient? by the doctor is the...
Consider two variables and the least squares equation for their line y=.8565 + 0.40248 x. Regression analysis revealed the following: s = 0.517508 r = .9838 What percentage of the variation of y cannot be explained by the variation of x?
The number of users of Facebook from 2004 through 2011 follows (Facebook website , April 16, 2012) Year 2004 2005 2006 2007 2008 2009 2010 Period Users (Millions) 12 58 145 360 608 845 TA 4 acebook 2011 Construct a time series plot. What type of pattern exists? Using Minitab or Excel, develop a quadratic trend equation. a. b.