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A) With Monthly Construction Permits as the independent variable, the carpet sales forecast if 20 construction permits for new homes are filed is:     a. 7,400 yards     b. 12,160 yards     c. 24,310 yards     d. 38,960 yards B) Using correlation coefficient as the criterion, the better forecasting model is:     a. The one with Time Period as the independent variable     b. The one with Monthly Construction Permits as the independent variable

A) With Monthly Construction Permits as the independent variable, the carpet sales forecast if 20 construction permits for new homes are filed is:     a. 7,400 yards     b. 12,160 yards     c. 24,310 yards     d. 38,960 yards B) Using correlation coefficient as the criterion, the better forecasting model is:     a. The one with Time Period as the independent variable     b. The one with Monthly Construction Permits as the independent variable

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
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A) With Monthly Construction Permits as the independent variable, the carpet sales forecast if 20 construction permits for new homes are filed is:
    a. 7,400 yards
    b. 12,160 yards
    c. 24,310 yards
    d. 38,960 yards


B) Using correlation coefficient as the criterion, the better forecasting model is:
    a. The one with Time Period as the independent variable
    b. The one with Monthly Construction Permits as the independent variable

LINEAR REGRESSION FORECASTING Carpet World wants to develop a means to forecast its carpet sales. The store manager would like to confirm which of two possible variables – time period vs. monthly house construction permits - is a better indicator of carpet sales. The manager has gathered data from city records of monthly house construction permits and from store records on monthly sales. The data are as follows. Do the necessary computations (express your results up to 2 decimal places) and choose the best answer that would complete each statement. TIME PERIOD MONTHLY CONSTRUCTION MONTHLY CARPET ( ΜONΤΗ) PERMITS SALES (1,000 YARDS) 21 5 2 35 10 3 10 4 4 12 5 16 8 9. 7 40 12 8 25 11 9 18 10 26 14
Transcribed Image Text:LINEAR REGRESSION FORECASTING Carpet World wants to develop a means to forecast its carpet sales. The store manager would like to confirm which of two possible variables – time period vs. monthly house construction permits - is a better indicator of carpet sales. The manager has gathered data from city records of monthly house construction permits and from store records on monthly sales. The data are as follows. Do the necessary computations (express your results up to 2 decimal places) and choose the best answer that would complete each statement. TIME PERIOD MONTHLY CONSTRUCTION MONTHLY CARPET ( ΜONΤΗ) PERMITS SALES (1,000 YARDS) 21 5 2 35 10 3 10 4 4 12 5 16 8 9. 7 40 12 8 25 11 9 18 10 26 14
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