Much of the public and private industry in Hawaii depends on tourism. The following time series plot
Question:
Here is a regression model fit to these data with dummy variables for months and a Time variable that starts at 0 and counts months:
a) Interpret the P-value for the trend coefficient.
b) You are planning to visit Hawaii and hope to avoid the crowds. A friend says that September and November have the fewest average visitors. Why might that not be correct?
c) Do you find evidence of a seasonal effect? Explain.
d) How many tourists would you predict for Hawaii in April 2007 (month 63 of this series)?
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Related Book For
Business Statistics
ISBN: 9780321925831
3rd Edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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