Least squares trend equation
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The following table lists the annual amounts of glass cullet produced by Kimble Glass
Works, Inc.
Scrap
Year Code Scrap (tons)
1999 1 2.0
2000 2 4.0
2001 3 3.0
2002 4 5.0
2003 5 6.0
Determine the least squares trend equation. Estimate the amount of scrap for the year
2005
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.
Quarter
Year I II III IV
2001 4 10 7 3
2002 5 12 9 4
2003 6 16 12 4
Determine a typical seasonal index for each of the four quarters.
Time Series and Forecasting 673
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Solution Summary
The solution determines the least squares trend equation from the data given.
Solution Preview
(1)
For the first question, the regression equation will be
Scrap(in tons) = 1.3 + 0.9x Code
For 2005 code will be ...
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