EP STATISTICS F/BUS.+ECON.-ACCESS 18 WK
13th Edition
ISBN: 9780135960912
Author: MCCLAVE
Publisher: PEARSON CO
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Textbook Question
Chapter 14.2, Problem 14.21ACI
OPEC crude oil imports. The data in the table below are the amounts of crude oil (millions of barrels) imported into the United States from the Organization of Petroleum Exporting Countries (OPEC) for the years 1995–2015.
| Year | t | Imports Yt |
| 1995 | 1 | 1544 |
| 1996 | 2 | 1541 |
| 1997 | 3 | 1668 |
| 1998 | 4 | 1790 |
| 1999 | 5 | 1808 |
| 2000 | 6 | 1904 |
| 2001 | 7 | 2018 |
| 2002 | 8 | 1681 |
| 2005 | 9 | 1884 |
| 2004 | 10 | 2086 |
| 2005 | 11 | 2039 |
| 2005 | 12 | 2014 |
| 2007 | 13 | 2183 |
| 2000 | 14 | 2179 |
| 2009 | 15 | 1743 |
| 2010 | 16 | 1791 |
| 2011 | 17 | 1663 |
| 2012 | 18 | 1563 |
| 2013 | 19 | 1358 |
| 2014 | 20 | 1181 |
| 2015 | 21 | 1058 |
a. Construct two exponentially smoothed series for this time series, using w = .1 and w = .9.
b. Plot the original series and the two smoothed series on the same graph. Which smoothed series looks more like the original series? Why?
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Park City, Utah was settled as a mining community in 1870 and experienced growth until the late 1950s when the price of silver dropped. In the past 40 years, Park City has experienced new growth as a thriving ski resort. The population data for selected years
between 1900 and 2009 are given below.
Park City, Utah
Year
1900
1930
1940
1950
1970
1980
1990
2000
2009
Population
3759
4281
3739
2254
1193
2823
4468
7341
11983
(a) What behavior of a scatter plot of the data indicates that a cubic model is appropriate?
O a change in concavity and neither a relative maximum nor a relative minimum
O a change in concavity and both a relative maximum and a relative minimum
O no change in concavity and an absolute minimum
O no change in concavity and an absolute maximum
(b) Align the input so that t = 0 in 1900. Find a cubic model for the data. (Round all numerical values to three decimal places.)
p(t) =
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p'(107) =…
Chapter 14 Solutions
EP STATISTICS F/BUS.+ECON.-ACCESS 18 WK
Ch. 14.1 - Explain in words how to construct a simple index.Ch. 14.1 - Explain in words how to calculate the following...Ch. 14.1 - Explain in words the difference between Laspeyres...Ch. 14.1 - The table below gives the prices for three...Ch. 14.1 - Refer to Exercise 14.4. The next table gives the...Ch. 14.1 - Annual median family income. The table below lists...Ch. 14.1 - Annual U.S. craft beer production. While overall...Ch. 14.1 - Quarterly single-family housing starts. The...Ch. 14.1 - Spot price of natural gas. The table shown in the...Ch. 14.1 - Employment in farm and nonfarm categories....
Ch. 14.1 - GOP personal consumption expenditures. The gross...Ch. 14.1 - GDP personal consumption expenditures (contd)....Ch. 14.1 - Weekly earnings for workers. The table in the next...Ch. 14.1 - Production and price of metals. The level or price...Ch. 14.2 - Describe the effect of selecting an exponential...Ch. 14.2 - A monthly time series is shown in the table to the...Ch. 14.2 - Annual U.S. craft beer production. Refer to the...Ch. 14.2 - Foreign fish production. Overfishing and pollution...Ch. 14.2 - Yearly price of gold. The price of gold is used by...Ch. 14.2 - Personal consumption in transportation. There has...Ch. 14.2 - OPEC crude oil imports. The data in the table...Ch. 14.2 - SP 500 Stock Index. Standard Poors 500 Composite...Ch. 14.5 - How does the choice of the smoothing constant w...Ch. 14.5 - Refer to Exercise 14.4 (p. 14-9). The table with...Ch. 14.5 - Annual U.S. craft beer production. Refer to...Ch. 14.5 - Quarterly single-family housing starts. Refer to...Ch. 14.5 - Consumer Price Index. The CPI measures the...Ch. 14.5 - OPEC crude oil imports. Refer to the annual OPEC...Ch. 14.5 - SP 500 Stock Index. Refer to the quarterly...Ch. 14.5 - SP 500 Stock Index (contd). Refer to Exercise...Ch. 14.5 - Monthly gold prices. The fluctuation of gold...Ch. 14.6 - Annual U.S. craft beer production. Refer to the...Ch. 14.6 - Annual U.S. craft beer production (contd). Refer...Ch. 14.6 - SP 500 Stock Index. Refer to your exponential...Ch. 14.6 - SP 500 Stock Index (contd). Refer to your Holt...Ch. 14.6 - Monthly gold prices. Refer to the monthly gold...Ch. 14.6 - US school enrollments. The next table reports...Ch. 14.8 - The annual price of a finished product (in cents...Ch. 14.8 - Retail sales in Quarters 14 over a 10-year period...Ch. 14.8 - What advantage do regression forecasts have over...Ch. 14.8 - Mortgage interest rates. The level at which...Ch. 14.8 - Price of natural gas. Refer to Exercise 14.9 (p....Ch. 14.8 - A gasoline tax on carbon emissions. In an effort...Ch. 14.8 - Predicting presidential elections. Researchers at...Ch. 14.8 - Life insurance policies in force. The table below...Ch. 14.8 - Graphing calculator sales. The next table presents...Ch. 14.8 - Prob. 14.47ACICh. 14.9 - Define autocorrelation. Explain why it is...Ch. 14.9 - For each case, indicate the decision regarding the...Ch. 14.9 - What do the following Durbin-Watson statistics...Ch. 14.9 - Company donations to charity. Refer to the Journal...Ch. 14.9 - Forecasting monthly car and truck sales. Forecasts...Ch. 14.9 - Predicting presidential elections. Refer to the...Ch. 14.9 - Mortgage interest rates. Refer to the data on...Ch. 14.9 - Price of natural gas. Refer to the annual data on...Ch. 14.9 - Life insurance policies in force. Refer to the...Ch. 14.9 - Modeling the deposit share of a retail bank....Ch. 14 - Insured Social Security workers. Workers insured...Ch. 14 - Insured Social Security workers (contd). Refer to...Ch. 14 - Retail prices of food items. In 1990, the average...Ch. 14 - Demand for emergency room services. With the...Ch. 14 - Mortgage interest rates. Refer to the annual...Ch. 14 - Price of Abbott Labs stock. The yearly closing...Ch. 14 - Price o f Abbott Labs stock (contd). Refer to...Ch. 14 - Prob. 14.65ACICh. 14 - Prob. 14.66ACICh. 14 - Quarterly GOP values (contd). Refer to Exercise...Ch. 14 - Prob. 14.68ACICh. 14 - Prob. 14.69ACICh. 14 - Prob. 14.70ACICh. 14 - IBM stock prices. Refer to Example 14.1 (p. 14-5)...Ch. 14 - Prob. 14.72ACI
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