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1. The table below shows the annual petroleum consumption (measured in British Thermal Units, abbreviated as BTUs) for a sample of residential consumers. A single

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1. The table below shows the annual petroleum consumption (measured in British Thermal Units, abbreviated as BTUs) for a sample of residential consumers. A single BTU is the amount of energy it takes to heat 1 pound of water by 1 degree Fahrenheit. These data are usually preliminary (sometimes estimated or forecasted) and likely to be revised the following year. The data are based on monthly estimates and are likely to be revised later that year after final data are published. A. Using the naive approach, what is the forecast for petroleum consumption in 2022 ? B. Forecast residential petroleum consumption for 2022 using a 3 -year moving average. C. Calculate the forecast error for 2020 based on the 3 -year moving average above. D. Forecast petroleum consumption for 2022 using exponential smoothing with =0.3. Joe's Equipment Distributors sells the "Grass King Energy Saver" brand lawnmowers. Total seasonal demand in 2016 is expected to be 2000 units. Use the sales dati for 2015 below to derive a forecast for each season in 2016. 4. First City Real Estate executives wish to butid a model to predict sales prices for residential properties. Such a model will be valuable when collaborating with potential sellers who might list their homes with First City. The company has prowided the following data: Page 2 of 3 The price of the property depends on squate footage, the age of the property, the number of bedrooms, the mumber of garages, and the area (foothills 1, and o othervise). A. Develop the multiple regression model to preduct property prices: Bi. At a 5 fil level of significance, is the overall model wignificath? C. Is each of the independent variables statistically sizificant in exlaining peoperty price? D. Formulate the null and altemative laypotheses. E. State whether you woild reicce the null bypothenis. F. Interpret the slope coefficients. 6. Interptet the intercept. 4 bedroomis, garages, and not localed at the foctills 1. What percentage of thie variabibity it compensaisons a accounted for in the abodel

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