Question
A boat manufacturer at Port Canaveral hired an analyst to estimate boat demand. The model is fit for 32 consecutive quarters. The analyst's task is
A boat manufacturer at Port Canaveral hired an analyst to estimate boat demand. The model is fit for 32 consecutive quarters. The analyst's task is to build a simple model for prediction. The variables are
boatsale = Quarterly Boat Sales
gasprice = gas price in cents
Unemp% = unemployment rate in percent
The regression equation is
boatsale = 1068 - 2.45 gasprice - 8.15 unemp%
Predictor Coef SE Coef T P
Constant 1067.66 99.98 10.68 0.000
Gasprice -2.4451 0.3254 -7.52 0.000
unemp% -8.148 5.689 -1.43 0.163
S = 39.0181 R-Sq = 71.1% R-Sq(adj) = 69.1%
Analysis of Variance
Source DF SS MS F P
Regression 2 108621 54311 35.67 0.000
Residual Error 29 44150 1522
Total 31 152771
The margin of error for your prediction in the previous question is ___ (round to nearest whole number)
Please give me the correct answer with step by step explanation and conclusion.
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