Number of Certified Organic Farms in the United States, 2001-2008 Year Farms 2001 5,357 5,736 6,470 6,456 6,887 7,820 9,398 10,778 2002 2003 2004 2005 2006 2007 2008 Click here for the Excel Data File a) Fit three trends (linear, quadratic, exponential) to the time series. (A negative value should be indicated ound the intermediate celculetions. Round your final answers to 2 decimal places.)
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- A statistical program is recommended. The number of users of a certain website (in millions) from 2004 through 2011 follows. Year Period Users (Millions) 2004 1 1 2005 2 7 2006 3 11 2007 4 57 2008 5 146 2009 6 359 2010 7 609 2011 8 845 (a) Construct a time series plot. A time series plot contains a series of 8 points connected by line segments. The horizontal axis ranges from 0 to 10 and is labeled: Period. The vertical axis ranges from 0 to 900 and is labeled: Millions of Users. The first point is at approximately (1, 850). The rest are plotted from left to right at regular increments of 1 period in a downward, diagonal direction that doesn't appear to become more or less steep as period increases. The last point is at approximately (8, 0). A time series plot contains a series of 8 points connected by line segments. The horizontal axis ranges from 0 to 10 and is labeled: Period. The vertical axis ranges from 0 to 900 and is labeled: Millions of Users.…The elevation of a lake surface (feet above sea level) varies according to the annual flow of a river that feeds it. A geological survey provided the following data from equally spaced intervals of time over a 15 year period. Time Period Elevation 1 4817 2 4819 3 4824 4 4822 5 4826 6 4831 7 4836 8 4837 9 4839 10 4837 11 4832 12 4827 13 4823 14 4818 15 4817 Make a time-series graph displaying the data.consider the following time series data.t 1 2 3 4 5 6 7yt10 9 7 8 6 4 4a. construct a time series plot. What type of pattern exists in the data?b. develop the linear trend equation for this time series.c. What is the forecast for t = 8?
- The following table shows Google's annual revenue (in billions of dollars) for 2009 to 2014.† Year Period (t) Revenue ($ billions) 2009 1 23.7 2010 2 29.3 2011 3 37.9 2012 4 50.2 2013 5 59.8 2014 6 66.7 (a)Construct a time series plot. -A time series plot contains a series of 6 points connected by line segments. The horizontal axis ranges from 0 to 7 and is labeled: Period. The vertical axis ranges from 0 to 80 and is labeled: Revenue ($ billions). The points are plotted from left to right at regular increments of 1 period starting at period 1. Initially, the points are plotted in an upward, diagonal direction. However, after the third point, the points are plotted in a downward, diagonal direction that becomes steeper as period increases. The points are between 23 to 71 on the vertical axis. -A time series plot contains a series of 6 points connected by line segments. The horizontal axis ranges from 0 to 7 and is labeled: Period. The vertical axis ranges…The data in the table above are: A) Cross-sectional B) Quantitative and continuous C) Quantitative and discrete D) Qualitative E) Time-seriescorporate triple-a bond interest rates for 12 consecutive months follow.9.5 9.3 9.4 9.6 9.8 9.7 9.8 10.5 9.9 9.7 9.6 9.6a. construct a time series plot. What type of pattern exists in the data?b. develop three-month and four-month moving averages for this time series. does thethree-month or four-month moving average provide more accurate forecasts basedon MSe? explain.
- 1. Consider the following time series: a. Construct a time series plot. What type of pattern exists in the data? b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.ten weeks of data on the commodity Futures index are 7.35, 7.40, 7.55, 7.56, 7.60, 7.52,7.52, 7.70, 7.62, and 7.55.a. construct a time series plot. What type of pattern exists in the data?b. compute the exponential smoothing forecasts for a = .2.c. compute the exponential smoothing forecasts for a = .3.d. Which exponential smoothing constant provides more accurate forecasts based onMSe? Forecast week 11.Consider the following time series data Month 1 2 3 4 5 6 7 8 9 10 11 12 Value 80 82 84 83 83 84 85 84 82 83 84 83 a) Construct a time series plot in Excel. Label the axes and graph. b) Develop a three month moving average forecast. Compute MSE and a forecast for month 13. c) Develop an exponential smoothing forecast with a = 0.35. Compute MSE and a forecast for month 13.
- The local Quick Burger fast food restaurant has a drive-through window. Customers in cars arrive at the window at the rate of 10 per hour (Poisson distributed). It requires anaverage of four minutes (exponentially distributed) to takeand fill an order. The restaurant chain has a service goal ofan average waiting time of three minutes.a. Will the current system meet the restaurant’s service goal?b. If the restaurant is not meeting its service goal, it can adda second drive-in window that will reduce the servicetime per customer to 2.5 minutes. Will the additionalwindow enable the restaurant to meet its service goal?c. During the two-hour lunch period the arrival rate ofdrive-in customers increases to 20 per hour. Will thetwo-window system be able to achieve the restaurant’sservice goal during the rush period?T2.5 The weekly number X of visits of the emergency department in a small town has a Poisson distribution with mean mu = 10 visits per week. Use Table A.2 to find the probability that a) the number of visits during a particular week exceeds 7. b) the number of visits during a two-week period is between 15 and 20, inclusive.corporate triple-a bond interest rates for 12 consecutive months follow.9.5 9.3 9.4 9.6 9.8 9.7 9.8 10.5 9.9 9.7 9.6 9.6a. construct a time series plot. What type of pattern exists in the data?b. develop three-month and four-month moving averages for this time series. does thethree-month or four-month moving average provide more accurate forecasts basedon MSe? explain.c. What is the moving average forecast for the next month?