Question

In: Statistics and Probability

The accompany data shows the demand for one type of chip used in industrial equipment from...

The accompany data shows the demand for one type of chip used in industrial equipment from a small manufacturer.

Month New Chip Introduced Demand
1 0 3894
2 0 3489
3 0 6083
4 1 10645
5 0 7697
6 0 7711
7 0 5427
8 0 8734
9 1 13048
10 0 7271
11 0 8614
12 0 7164
13 0 7401
14 0 9689
15 1 14506
16 0 8509
17 0 12159
18 0 14696
19 1 18965
20 0 14214
21 0 14841
22 0 15304
23 0 16472
24 0 16974

a. Construct a chart of the data. What appears to happen when a new chip is introduced?

b. Develop a causal regression model to forecast demand that includes both time and the introduction of a new chip as explanatory variables.

c. What would the forecast be for the next month if a new chip is introduced? What would it be if a new chip is not introduced?

Solutions

Expert Solution

orchestra answered 1 year ago
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