Questions from Business Statistics

Q: Gross domestic product (GDP) is a major indicator of a

Gross domestic product (GDP) is a major indicator of a nation's overall economic activity. It consists of personal consumption expenditures, gross domestic investment, net exports of goods and service...

Q: The data in Federal Receipts represent federal receipts from 1978 through 2018

The data in Federal Receipts represent federal receipts from 1978 through 2018 in billions of current dollars, from individual and corporate income tax, social insurance, excise tax, estate and gift t...

Q: The data shown in the following tab le and stored in Solar

The data shown in the following tab le and stored in Solar Power represent the yearly amount of solar power generated by utilities (in millions of kWh) in the United States from 2002 through 2018: a....

Q: What are the two main approaches in prescriptive analytics?

What are the two main approaches in prescriptive analytics?

Q: The file Auto Production contains the number of automobiles assembled in the

The file Auto Production contains the number of automobiles assembled in the United States (in thousands) from 1999 to 2018. Source: Data extracted from FRED, "Domestic Auto Production," bit.ly/2KH.KC...

Q: The average salary of Major League Baseball players on opening day from

The average salary of Major League Baseball players on opening day from 2000 to 2019 is stored in MLB Salaries and in the following table. a. Plot the data. b. Compute a linear trend forecasting equat...

Q: In 2017, the per capita consumption of bottled water in China

In 2017, the per capita consumption of bottled water in China was reported to be 25.46 gallons. Source: Data extracted from IBWA, "Bottled Water Market," bit.ly/2Jlmynt. Assume that the per capita con...

Q: The file Silver contains the following prices in London for an ounce

The file Silver contains the following prices in London for an ounce of silver (in US$) on the last day of the year from 1999 to 2018: a. Plot the data. b. Compute a linear trend forecasting equation...

Q: The data in CPI-U reflect the annual values of the

The data in CPI-U reflect the annual values of the consumer price index for all urban consumers (CPI-U) in the United States over the 54-year period 1965 through 2018, using 1982 through 1986 as the b...

Q: Although you should not expect a perfectly fitting model for any time

Although you should not expect a perfectly fitting model for any time-series data, you can consider the first differences, second differences, and percentage differences for a given series as guides i...