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1. The transportation time and distance it take to deliver parts to customers are listed in the table 1. below:
TABLE #1.
Customer
Rail Distance to Destination
X
Transportation time (days)
Y
1
Muller Auto Supply
210
5
2
Taylor Ford
290
7
3
Auto Supply House
350
6
4
Parts ‘n Spares
480
11
5
Jones & Sons
490
8
6
A. Housman
730
11
7
Des Moines Parts
780
12
8
Pete’s Parts
850
8
9
Smith Dodge
920
15
10
Gulf Distributors
1,010
12
a. Use the data above to estimate the linear trend forecast using the simple linear regression to calculate the trend line to predict the transportation time (Ŷ) for a customer living 490 miles away. (HINT): How many days it will take to deliver parts to a customer 490 miles away.
b. Compute the standard error of the estimate?
c. Now estimate the total variability in Y when the knowledge of X is ignored without regression
d. What conclusion can you make from the two prediction estimates from your calculations.
2. TABLE #2.
Week (t)
Time Series Value (Yt)
Forecast
Error
Absolute Deviation
Error Square
Abs. % error
1
17
2
21
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