Use the following time series data, to develop a regression equation relating memberships to time. Forecast 2023 membership Assuming the COVID-19 pandemic comes to an end in 2021, in your opinion, how will this affect membership? Why? How will this affect your prediction?

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
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Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...
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  1. Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs.

Year

2013

2014

2015

2016

2017

2018

2019

2020

2021

Membership

17

16

16

21

20

20

23

25

24

 

  • Use the following time series data, to develop a regression equation relating memberships to time.
  • Forecast 2023 membership
  • Assuming the COVID-19 pandemic comes to an end in 2021, in your opinion, how will this affect membership? Why? How will this affect your prediction?
  1. What are the issues associated with qualitative forecasting, and how are these overcome?
  2. Provide an example of qualitative forecasting and explain the shortcomings.
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