Document all your work in this paper Only calculator, pencil and eraser on the t

Question

Document all your work in this paper Only calculator, pencil and eraser on the table Input your answers on the SCANTRON sheet You may detach formulas at the end The slope of the regression equation is positive if the R-squared value is greater than 0. true False. A counseling service records the number of calls to their hotline for the last year. What is the forecast for March if an adjusted exponential smoothing model is used with alpha = 0.7 and beta = 0.8? The unadjusted forecast for January is 120. A poultry farmer that dabbles in statistics is interested in exploring the relationship between two types of feed, layer pellets and scratch, water, and the output of his laying hens. For ten days he records the number of ounces of layer pellets and scratch the hens consume and the number of fluid ounces of water and tracks the number of eggs that are produced. After running a multiple regression model, he obtains the following report. What is the best interpretation of these statistics?

Explanation / Answer

Forecast for feb = (Alpha* Demand for Jan) + ((1 - alpha)* Forecast for Jan) = (0.7*115)+(0.3*120) = 116.5

Trend for feb = Beta * (Forecast of feb - Forecast of jan) + ((1 - beta) * trend of jan) = 0.8(116.5 - 120)+(0.2*0) = -2.8

Alpha 0.7 Beta 0.8 month Demand Forecast Trend Forecast with trend = Forecast + Trend Jan 115 120 0 Feb 127 116.5 -2.8 120 Mar 130 123.85 5.32 129.17

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