Determine the Least Squares Equation and Estimate
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The numbers of bank failures for the years 1997 through 2001 are given below. Determine the least squares equation and estimate the number of failures in 2003.
Year Code Number of Failures
1997 1 79
1998 2 120
1999 3 138
2000 4 184
2001 5 200
Q3
3. The following table gives the annual amount of scrap produced by Machine Products, Inc.
Determine the least squares trend equation. Estimate the amount of scrap for the year 2003.
Year Code scrap(tons)
1997 1 2.0
1998 2 4.0
1999 3 3.0
2000 4 5.0
2001 5 6.0
9. Victor Anderson, the owner of Anderson Belts, Inc., is studying absenteeism among his employees. His workforce is small, consisting of only five employees. For the last three years he recorded the following number of employee absences, in days, for each quarter.
Determine a typical seasonal index for each of the four quarters.
Quarter
Year I II III IV
1999 4 10 7 3
2000 5 12 9 4
2001 6 16 12 4
Leave all answers in the same area as the example. easy to read please.
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Education
- BSc , Wuhan Univ. China
- MA, Shandong Univ.
Recent Feedback
- "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
- "excellent work"
- "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
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