U.S. Manufactured General Aviation Shipments, 1984–2016Year Planes Year Planes Year Planes Year Planes1984 3,289 1992 1,799 2000 3,674 2008 3,937 1985 2,887 1993 1,822 2001 3,492 2009 2,443 1986 2,353 1994 1,786 2002 3,065 2010 2,192 1987 1,943 1995 1,935 2003 2,995 2011 2,181 1988 2,070 1996 1,973 2004 3,213 2012 2,374 1989 2,393 1997 2,407 2005 3,715 2013 2,473 1990 2,002 1998 3,058 2006 4,005 2014 2,489 1991 1,879 1999 3,362 2007 4,137 2015 2,450 Make a forecast for 2016 using a method of your choice (including a judgment forecast). Justify your method. (Round your answer to the nearest whole number.)
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
U.S. Manufactured General Aviation Shipments, 1984–2016
Year Planes Year Planes Year Planes Year Planes
1984 3,289 1992 1,799 2000 3,674 2008 3,937
1985 2,887 1993 1,822 2001 3,492 2009 2,443
1986 2,353 1994 1,786 2002 3,065 2010 2,192
1987 1,943 1995 1,935 2003 2,995 2011 2,181
1988 2,070 1996 1,973 2004 3,213 2012 2,374
1989 2,393 1997 2,407 2005 3,715 2013 2,473
1990 2,002 1998 3,058 2006 4,005 2014 2,489
1991 1,879 1999 3,362 2007 4,137 2015 2,450
Make a forecast for 2016 using a method of your choice (including a judgment forecast). Justify your method. (Round your answer to the nearest whole number.)
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