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:

Rods and Cones

Specialized types of photoreceptor cells in the retina that are responsible for vision in low light (rods) and color vision and detailed vision in brighter light (cones).

Retina

The light-sensitive layer of tissue at the back of the inner eye, containing photoreceptor cells that convert light into neural signals.

Brain

Ganglionic mass at the anterior end of the nerve cord; in vertebrates, the brain is located in the cranial cavity of the skull.

Lens

A transparent, flexible structure in the eye that focuses light onto the retina to produce clear images.