Use This Information to Answer the Following Questions -Refer to the Table Above

question 19

Essay

Use this information to answer the following questions.
The following data,provided by the U.S.Bureau of Citizenship and Immigration Services,represent the number of immigrants admitted to the United States,in thousands,from 1990-2001.
$$\begin{array} { | c | c | } \hline \text { Year } & \begin{array} { c } \text { No. of Immigrants } \\\text { (in 000s) }\end{array} \\\hline 1990 & 1536 \\\hline 1991 & 1827 \\\hline 1992 & 974 \\\hline 1993 & 904 \\\hline 1994 & 804 \\\hline 1995 & 720 \\\hline 1996 & 916 \\\hline 1997 & 798 \\\hline 1998 & 654 \\\hline 1999 & 647 \\\hline 2000 & 850 \\\hline 2001 & 1064 \\\hline\end{array}$$
-Refer to the table above.Use a 3-period weighted moving average to forecast the number of immigrants in 2002.Use Solver to determine the optimal weights based on minimizing the MAD criterion.

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Definitions:

Inferential Statistics

A branch of statistics that allows for making predictions or inferences about a population based on a sample of data.

Mutually Exclusive

Events that cannot occur simultaneously, indicating that the happening of one precludes the occurrence of the other.

Hypothesis Testing

A statistical method to decide whether to accept or reject a hypothesis based on sample data.

Significance Level

The probability of rejecting the null hypothesis in a statistical test when it is true. Often denoted by alpha, it's a measure of the risk of a Type I error.