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Orlov [11]
2 years ago
8

Consider the data in the Excel file Consumer Price Index. Use simple linear regression to forecast the data. What would be the f

orecasts for the next two months? (Your regression equation should be look like CPI = a + b T. The T is year and 1990=1; 1991=2; 1992=3; 1993=4; 1994=5; 1995=6; 1996=7; 1997=8; 1998=9; 1999=10) Year CPI 1990 169.3 1991 170.0 1992 172.4 1993 175.3 1994 177.2 1995 176.8 1996 179.1 1997 180.1 1998 ? 1999 ?

Business
1 answer:
Digiron [165]2 years ago
3 0

Answer:

CPI(1998) = 182.32

CPI(1999) = 183.94

Explanation:

1.  

Using excel regression analysis, the regression results are below:

This gives regression equation as: CPI = 167.73 + 1.62T

Kindly check the attached image below for the step by step explanation.

In order to find CPI values for 1998 and 1999, substitute value of T = 9 and 10 respectively

This gives:

CPI(1998) = 182.32

CPI(1999) = 183.94

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