TABLE 16-11 $$\text { Businessclosures in Laramie, Wyomingfrom } 1989 \text { to } 1994 \text { were: }$$

question 150

Short Answer

TABLE 16-11
$$\text { Businessclosures in Laramie, Wyomingfrom } 1989 \text { to } 1994 \text { were: }$$ $$\begin{array} { l l } 1993 & 10 \\1994 & 11 \\1995 & 13 \\1996 & 19 \\1997 & 24 \\1998 & 35\end{array}$$ Microsoft Excel was used to fit both first-order and second-order autoregressive models, resulting in the following partial outputs:
$\text {SUMMARY OUTPUT- \(2 ^ { \text {nd } }\) Order Model}$

$\begin{array} { l c }&\text {Coefficients}\\ \text { Intercept } & - 5.77 \\ \text { XVariable 1 } & 0.80 \\ \text { XVariable 2 } & 1.14 \end{array}$ .

$\text {SUMMARY OUTPUT- \(1 ^ { \text {st } }\) Order Model}$

$\begin{array}{cr}&\text {Coefficients}\\ \text { Intercept } & -4.16 \\\text { X Variable } 1 & 1.59 \\\hline\end{array}$

-Referring to Table 16-14, what are the simple price indexes for electricity, natural gas and fuel oil, respectively, in 1994 using 1992 as the base year?

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Definitions:

Real Property

Land, buildings attached to the land, and items called fixtures, that is, items that are attached to the land or to a building or to another fixture attached to the land.

Personal Property

Tangible, movable goods (chattels) and intangible claims (choses in action).

Chattels

Tangible, movable personal property that can be measured and weighed; also known as goods.

Fixtures

Items that are attached to a property in such a way that they become part of the property and cannot be removed without permission.