Question

The data used to create the below regression (y=41X+5)output had time perdiod one as Jan 2020. What is the the result of the regression equation for the March 2021?

Answer 1

To use the regression equation \( y = 41X + 5 \) to find the result for March 2021, we first need to determine what \( X \) represents in this context.

Since the time period starts with January 2020 as time period 1, we will count the months from that point onward:

- January 2020: \( X = 1 \)
- February 2020: \( X = 2 \)
- March 2020: \( X = 3 \)
- April 2020: \( X = 4 \)
- May 2020: \( X = 5 \)
- June 2020: \( X = 6 \)
- July 2020: \( X = 7 \)
- August 2020: \( X = 8 \)
- September 2020: \( X = 9 \)
- October 2020: \( X = 10 \)
- November 2020: \( X = 11 \)
- December 2020: \( X = 12 \)
- January 2021: \( X = 13 \)
- February 2021: \( X = 14 \)
- March 2021: \( X = 15 \)

Now that we have established that \( X = 15 \) for March 2021, we can substitute this value into the regression equation:

\[
y = 41(15) + 5
\]

Calculating this gives:

\[
y = 615 + 5 = 620
\]

So the result of the regression equation for March 2021 is \( y = 620 \).