Freight car loadings over a 12-year period at a busy port are as follows:Week Number Week Number Week Number1 220 7 350 13 4602 245 8 360 14 4753 280 9 400 15 5004 275 10 380 16 5105 300 11 420 17 5256 310 12 450 18 541a. Determine a linear trend line for expected freight car loadings.b. Use the trend equation to predict expected loadings for weeks 20 and 21.c. The manager intends to install new equipment when the volume exceeds 800 loadings per week.Assuming the current trend continues, the loading volume will reach that level in approximatelywhat week?
Freight car loadings over a 12-year period at a busy port are as follows:Week Number Week Number Week Number1 220 7 350 13 4602 245 8 360 14 4753 280 9 400 15 5004 275 10 380 16 5105 300 11 420 17 5256 310 12 450 18 541a. Determine a linear trend line for expected freight car loadings.b. Use the trend equation to predict expected loadings for weeks 20 and 21.c. The manager intends to install new equipment when the volume exceeds 800 loadings per week.Assuming the current trend continues, the loading volume will reach that level in approximatelywhat week?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 46P
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Freight car loadings over a 12-year period at a busy port are as follows:
Week Number Week Number Week Number
1 220 7 350 13 460
2 245 8 360 14 475
3 280 9 400 15 500
4 275 10 380 16 510
5 300 11 420 17 525
6 310 12 450 18 541
a. Determine a linear trend line for expected freight car loadings.
b. Use the trend equation to predict expected loadings for weeks 20 and 21.
c. The manager intends to install new equipment when the volume exceeds 800 loadings per week.
Assuming the current trend continues, the loading volume will reach that level in approximately
what week?
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