Least squares regression in Excel, with future prediction and MSE

Apr 10th, 2015
SKTFaker
Category:
Statistics
Price: $10 USD

Question description

1.  For the data below:

Year

Automobile Sales

Year

Automobile Sales

1990

116

1997

119

1991

105

1998

34

1992

29

1999

34

1993

59

2000

48

1994

108

2001

53

1995

94

2002

65

1996

27

2003

111

(a) Determine the least squares regression trend line using the Excel output from the Data Analysis tool. (5 pts)

(b) Determine the predicted value for 2004. Use the information from part (a). (5 pts)

(c) Determine the 3 year moving average. (10 pts)

(d) Determine the MSE for the trend line (in a) and the 3 year moving average (in c.)  Which forecasting method is better? Explain. (20 pts)

ALL WORK NEEDS TO BE SHOWN


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(Top Tutor) Daniel C.
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