STATISTICS F/BUS.+ECON.(LL)-W/2 ACCESS
STATISTICS F/BUS.+ECON.(LL)-W/2 ACCESS
8th Edition
ISBN: 9780134382364
Author: NEWBOLD
Publisher: PEARSON
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Chapter 1.4, Problem 22E
To determine

Time plot of the gross domestic investment and gross private savings.

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the logistic equation y=9200/(1+8.03x^-0.121t) models the gross domestic product (GDP) of the united states from 1970 through 1992, where t is the number of years after 1970 and y is in billions of dollars. at what value of t is the growth in GDP increasing most rapidly in what year?
Suppose you have an extra six months of data on demands and prices, in addition to the data in the example. These extra data points are (350,84), (385,72), (410,67), (400,62), (330,92), and (480,53). (The price is shown first and then the demand at that price.) After adding these points to the original data, use Excel’s Trendline tool to find the best-fitting linear, power, and exponential trend lines. Then calculate the MAPE for each of these, based on all 18 months of data. Does the power curve still have the smallest MAPE?
Economic time series are maintained and published by some government agencies such as the Census Bureau and the Bureau of Labor Statistics, and they use time series decomposition. Why do you think they use time series decomposition? Explain in detail.
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Forecasting: Exponential Smoothing, MSE; Author: Joshua Emmanuel;https://www.youtube.com/watch?v=k_HN0wOKDd0;License: Standard Youtube License