Question 1
Shown below are rental and leasing revenue
figures for office machinery and equipment in the United
States over a seven-year period according to the U.S. Census Bureau. Use these data to run a linear
regression and then
forecast the rental and leasing revenue for the year 2012.
Year Rental and Leasing ($ millions)
2004 5,860
2005 6,632
2006 7,125
2007 6,000
2008 4,380
2009 3,326
2010 2,642
Stats - MathGuru, Tuesday, August 21, 2012 at 1:38pm
Regression equation is in this format:
predicted y = a + bx
...where a = intercept and b = slope.
Determine the equation, then substitute 2012 for x to find predicted y (forecasting the rental and leasing revenue).
2 answers