Identify and give a brief explanation of the:- i. Dependent variable ii. Independent variable b. Use simple linear regression to forecast annual demand for months 9 and 10 by using the tabular method to:- i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.
Identify and give a brief explanation of the:- i. Dependent variable ii. Independent variable b. Use simple linear regression to forecast annual demand for months 9 and 10 by using the tabular method to:- i. Derive the values for the intercept and slope. ii. Derive the linear regression equation. iii. Plot the linear regression line. iv. Develop a forecast of the clinic attendance for months 9 and 10.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 6P: Do the sales prices of houses in a given community vary systematically with their sizes (as measured...
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Question
The number of patients coming to the Healthy Start Maternity clinic has been increasing steadily
over the past eight months. You are provided with some historical data as follows:
Month Clinic attendance
(in thousands)
1 3.4
2 3.9
3 4.5
4 5.0
5 5.8
6 5.9
7 6.5
8 6.7
a. Identify and give a brief explanation of the:-
i. Dependent variable
ii. Independent variable
b. Use simple linear regression to
tabular method to:-
i. Derive the values for the intercept and slope.
ii. Derive the linear regression equation.
iii. Plot the linear regression line.
iv. Develop a forecast of the clinic attendance for months 9 and 10.
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