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

Net exports are calculated by subtracting imports from

Net Exports are calculated by subtracting Imports from Exports. Assume Exports and Imports are independent of one another.  If mean exports are $25M with a standard deviation of $3.5M and mean imports are $30M with a sta ...

1nbspthe owner of a professional basketball team claims

1) The owner of a professional basketball team claims that the mean attendance at games is over 25,000 and therefore the team needs a new arena. Determine whether the hypothesis test for this claim is left-tailed, right- ...

1 why are psychologists sometimes interested in

1. Why are psychologists sometimes interested in epidemiology? 2. Why do researchers use probability rather than nonprobability samples when doing descriptive research?

In a study of smokers who tried to quit smoking with

In a study of smokers who tried to quit smoking with nicotine patch therapy, 39 were smoking one year after the treatment, and 32 were not smoking one year after the treatment. We want to use a .05 significance level to ...

Plot four different regression graphs x v y tomatometer v

Plot four different regression graphs (X v Y): Tomatometer v Audience, Budget v Gross, Budget v Tomatometer, Audience v Gross and find the best-fit line equation and correlation coefficient (r-value) for each one. X repr ...

My variables are 1 sat scores between 600- 2400 2 gender 3

My variables are: 1. SAT scores between 600- 2400, 2. Gender, 3. Type of college attended, 1 for public university, 2 for private university, 4. Type of degree held: 1 for bachelors, 2 for masters, 3 for PHD or doctorate ...

Satistics project come up with a survey pick a population

Statistics Project: Come up with a survey: Pick a population Come up with 4 variablesà 2 Quantitative & 2 Qualitative (make up numbers) Pick 50 data points for each variable, make a table on excel, use a scatter plot gra ...

Validity true story i once spoke to a retired professor who

Validity: True story: I once spoke to a retired professor who used to teach general studies geography. His grading technique was to throw the papers/tests on the ground and randomly assign the same grade to each pile (wi ...

A business student is interested in estimating the 99

A business student is interested in estimating the 99% confidence interval for the proportion of students who bring laptops to campus. He wishes a precise estimate and is willing to draw a large sample that will keep the ...

Bob like peggy wants to know if his cookies are special but

Bob, like Peggy, wants to know if his cookies are special, but all he knows are the class average of 21.65 chips per cookie, and his own data for his 10 cookies: 12,14,15,12,12,13,17,15,15,22. Conduct all six steps of hy ...

  • 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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen