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In: Statistics and Probability
The U.S. Census Bureau publishes data on factory orders for all manufacturing, durable goods, and nondurable...
The U.S. Census Bureau publishes data on factory orders for all manufacturing, durable goods, and nondurable goods industries. Shown below are factory orders in the United States over a 13- year period ($ billion). First, use the data to develop forecasts for years 6 through 13 using a 5-year moving average. Then, use the data to develop forecasts for years 6 through 13 using a 5-year weighted moving average. Weight the most recent year by 6, the previous year by 4, the year before that by 2, and the other years by 1. Answer the following questions: a) What is the forecast for year 13 based on the 5-year moving average? b) What is the forecast for year 13 based on the 5-year weighted moving average? c) What is the MAD for the moving average forecast? d) What is the MAD for the weighted moving average forecast? e) Which forecasting model is better? Year Factory orders 1 2,512.70 2 2,739.20 3 2,874.90 4 2,934.10 5 2,865.70 6 2,978.50 7 3,092.40 8 3,052.60 9 3,145.20 10 3,114.10 11 3,257.40 12 3,654.00 13
Solutions
orchestra answered 1 year agoRelated Solutions
The U.S. Census Bureau publishes data on factory orders for all manufacturing, durable goods, and nondurable...
The U.S. Census Bureau publishes data on factory orders for all
manufacturing, durable goods, and nondurable goods industries.
Shown below are factory orders in the United States over a 13- year
period ($ billion). First, use the data to develop forecasts for
years 6 through 13 using a 5-year moving average. Then, use the
data to develop forecasts for years 6 through 13 using a 5-year
weighted moving average. Weight the most recent year by 6, the
previous year by...
U.S. Bureau of Economic Analysis (BEA) publishes data for GDP with the breakdown of all the...
U.S. Bureau of Economic Analysis (BEA) publishes data for GDP
with the breakdown of all the components of GDP. Visit their
website by clicking on the following link
https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=2#reqid=19&step=2&isuri=1&1921=survey
Then select Table 1.1.5. Gross Domestic Product, from SECTION
1- Domestic Product.
Using the table answer the following questions:
a. Based on the table, what are the components that are listed
as part of the consumption. You do not need to provide the values
only names are enough.
b. Based on...
2. The U.S. Census Bureau publishes information on the ages of married couples. Suppose we want...
2. The U.S. Census Bureau publishes information on the ages of
married couples. Suppose we want to determine whether, in the U.S.,
the mean age of married men differs from the mean age of their
wives. A random sample of married couples is taken and their ages
are recorded. Perform a hypothesis test at the 0.05 level of
significance to determine if the mean age of husbands differs from
the mean age of their wives. (Hint: Fill in the Difference...
Measures of Average: U.S. Census Bureau The U.S. Census Bureau reports the median family income in...
Measures of Average: U.S. Census Bureau
The U.S. Census Bureau reports the median family income in its
summary of census data.
a) Why do you suppose it uses the median instead of the
mean?
b) What might be the disadvantages of reporting the mean?
Measures of Variation: MP3 Player Life Span
A company selling a new MP3 player advertises that the player
has a mean lifetime of 5 years. If you were in charge of quality
control at the factory,...
The U.S. Census Bureau collects data on the ages of married people. Suppose that eight married...
The U.S. Census Bureau collects data on the ages of married
people. Suppose that eight married couples are randomly selected
and have the ages given in the following table. Determine the 98%
confidence interval for the true mean difference between the ages
of married males and married females.
Let d=(age of husband)−(age of wife)d=(age of husband)−(age of
wife). Assume that the ages are normally distributed for the
populations of both husbands and wives in the U.S.
Husband
43
63
65...
The U.S. Census Bureau collects data on the ages of married people. Suppose that eight married...
The U.S. Census Bureau collects data on the ages of married
people. Suppose that eight married couples are randomly selected
and have the ages given in the following table. Determine the 95%
confidence interval for the true mean difference between the ages
of married males and married females.
Let d=(age of husband)−(age of wife). Assume that the ages are
normally distributed for the populations of both husbands and wives
in the U.S.
Husband
64
40
46
35
37
67
46...
According to the U.S Census Bureau, the average travel time to work in the U.S. is...
According to the U.S Census Bureau, the average travel time to
work in the U.S. is 25.4 minutes. a simple random sample of 10
people reported the following travel times,
10,11,9,24,37,22,75,23,51,48.
at a 5% significance level, do the data provide sufficient
evidence to conclude that people in Bryan, tx spend less time
traveling to work than the national average? calc the p-value.
a. p= 0.7838
b. p= 0.4325
c. p= 0.8217
d. p= 0.8067
e. p= 0.1933
According to the U.S Census Bureau, the average travel time to work in the U.S. is...
According to the U.S Census Bureau, the average travel time to
work in the U.S. is 25.4 minutes. a simple random sample of 10
people reported the following travel times,
10,11,9,24,37,22,75,23,51,48.
at a 5% significance level, do the data provide sufficient
evidence to conclude that people in Bryan, tx spend less time
traveling to work than the national average? calc the p-value.
a. p= 0.7838
b. p= 0.4325
c. p= 0.8217
d. p= 0.8067
e. p= 0.1933
Use the following information for all questions. The U.S. Census Bureau reported the following unemployment rates...
Use the following information for all questions.
The U.S. Census Bureau reported the following unemployment rates
(y) associated with the given number of years of education (x).
Years of Education
Unemployment Rate
5.0
16.8
7.5
17.1
8.0
15.3
10.0
20.6
12.0
11.7
14.0
8.1
16.0
3.8
5. Which of the following is the equation of the regression
line? Round the slope and the y=intercept to two decimal
places.
6.a. Interpret the slope of the regression line in a sentence.
Be...
According to the U.S. Census Bureau, the Gini ratio in the U.S. rose from 0.479 to...
According to the U.S. Census Bureau, the Gini ratio in the U.S.
rose from 0.479 to 0.486 between 2015 and 2018. This implies which
of the following?
A. The area between the Lorenz curve and the line of equality
increased from 0.243 in 2015 to 0.521 in 2018. B. The area between
the Lorenz curve and the line of equality decreased from 0.521 in
2015 to 0.243 in 2018. C. The Lorenz curve in the U.S. was farther
away from...
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