Time series analysis
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The number of employees, in thousands, of Keller Overhead Door, Inc. for the years 1998 to 2003 are:
Year Employees Year Employees
1998 45.6 2001 39.3
1999 42.2 2002 34.0
2000 41.1 2003 30.0
a. Plot the data.
b. Determine the least squares trend equation.
c. Use the trend equation to calculate the points for 2000 and 2002. Plot them on the graph and draw the regression line.
d. Estimate the number of employees in 2006.
e. By how much has the number of employees increased (or decreased) per year on the average during the period?
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Solution Summary
The solution provides detailed steps for the trend estimation for number of employees are given in the solution (see attachments - including scatter diagrams and tables).
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