Identify the Components of Simple Linear Regression Models and Discuss

question 12

Multiple Choice

Identify the components of simple linear regression models and discuss their applications Use the data given below to answer the following question(s) .
The worldwide sales of cars from 1981-1990 are shown in the table below. Given: α = 0.2 and β
= 0.15 (Hint: Use XLMiner) $$\begin{array} { | c | c | } \hline \text { Year } & \begin{array} { c } \text { Units sold in } \\\text { thousands }\end{array} \\\hline 1981 & 888 \\\hline 1982 & 900 \\\hline 1983 & 1000 \\\hline 1984 & 1200 \\\hline 1985 & 1100 \\\hline 1986 & 1300 \\\hline 1987 & 1250 \\\hline 1988 & 1150 \\\hline 1989 & 1100 \\\hline 1990 & 1200 \\\hline\end{array}$$
-Identify the value of the mean square error using double exponential smoothing for the given set of data.

• A) 8.10
• B) 1.80
• C) 91.27
• D) 11976.17

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Definitions:

Agricultural Products

Items derived from farming or the cultivation of animals, including food, fiber, and other goods.

Surpluses

Occurs when the quantity of a good or service supplied exceeds the quantity demanded at a given price.

Binding Price Floor

A minimum price set by the government above the equilibrium price, leading to a surplus of goods or services in the market.

Supply And Demand

A model that explains how the interaction between product availability and consumers' desire determines the price of goods and services.