Use the Data Given Below to Answer the Following Question(s)

question 3

Multiple Choice

Use the data given below to answer the following question(s) .
The table below shows the industrial lathe sales from the years 2000-2005.The forecaster uses the regression method to determine the forecast for the future.
-For the given data,the value of MSE is ________.[Hint: Round the forecast values to 3 decimal places.]

• A)1,014,031.75
• B)818.73
• C)1,006.99
• D)16.51

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Definitions:

Normal Good

A good whose demand increases when consumer income rises.

Cross-price Elasticity

An indicator showing the responsiveness of the demand for a particular item to variations in the price of a different item.

Pineapples

Tropical fruits that are known for their sweet and tart flavor, commonly used in cooking and baking.

Papayas

A tropical fruit that is sweet in taste, rich in vitamins, and typically has a yellow-orange flesh when ripe.