Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Compute the forecast error for the given problem.

In order to estimate the attendance at an annual tennis tournament a model has been developed which uses attendance from the previous year as well as the amount spent for advertising this year. From the years exposed in the table, forecast the attendance for years 2-5 also find out the forecast error.

  Year

  Attendance

Advertising Expenditure

  Forecast

  Error

1

  8363

  750

 

 

2

  9426

1250

 

 

3

  9318

3200

 

 

4

10206

4500

 

 

5

11018

5600

 

 

The multiple regression model is Attendance = 6738 + .23($) + .25 (Attlag)

Note- 'Attlag' means last-year's actual attendance. Therefore in forecasting the second year's attendance we'd use the first year's actual attendance value and so forth.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M923428

Have any Question? 


Related Questions in Statistics and Probability

Under what conditions is a grouped frequency distribution

Under what conditions is a grouped frequency distribution more useful as a means of describing a set of scores than a simple frequency distribution? Why do researchers often add relative frequencies to their tables?

Joshua and his army are planning to circle jericho seven

Joshua and his army are planning to circle Jericho seven times. Will the wall come tumbling down? The king of Jericho reports that: I ascribe probability 0.8 to "the wall of the city will fall, and Joshua ascribes probab ...

Hypothesesh0 there is no correlation between hours walking

Hypotheses H0 There is no correlation between hours walking and weight loss. H1 There is a positive correlation between hours walking and weight. H2 There is a negative correlation between hours walking and weight loss. ...

Case study diets and weight lossnbspa study innbspthe

CASE STUDY Diets and Weight Loss  A study in The Journal of the American Medical Association describes the effects of diets on weight control. In the study, 311 women were randomly divided into four groups. The first gro ...

Designing and writing a report on a statistical study of

Designing and Writing a Report on a Statistical Study of Your Own Select a question of your own to investigate using one of the hypothesis tests studied in this class.  Explain why you chose the particular question to in ...

1 what are time-series research designs and how are they

1. What are time-series research designs, and how are they used to learn about changes in behavior over time? 2. What types of independent variables can be used in participant-variable research designs, and what conclusi ...

Experiments on learning in animals sometimes measure how

Experiments on learning in animals sometimes measure how long it takes a mouse to find its way through a maze. Long experience indicates that the mean time is 20 seconds for one particular maze. A researcher thinks that ...

Consider the game in strategic form shown in table 1a find

Consider the game in strategic form shown in Table 1. a. Find the correlated equilibrium that maximizes the expected sum of the two players' payoffs. b. Find the correlated equilibrium that minimizes the expected sum of ...

Suppose we randomly sample 400 nucleotides from the human

Suppose we randomly sample 400 nucleotides from the human genome. (Consider only a single strand.) Does the occurrence of adenine, thiamine, cytosine and guanine (A, C, T and G) in this sample suggest that nucleotides in ...

1 if the calculated value of t is less than the critical

1. If the calculated value of t is less than the critical value, do you reject or fail to reject the null hypothesis? Explain. 2. If you reject the null hypothesis (and conclude that the independent variable has an effec ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro