Question
A collection of observations of a variable y taken at regular intervals over time is called a time series. Think of a time series as
A collection of observations of a variable y taken at regular intervals over time is called a time series. Think of a time series as providing data points xi, yi?, where xi is the ith observation time and yi is the observed value of y at time xi. If a time series exhibits a linear?trend, that trend can be found by determining the regression equation for the data points. The regression equation can then be use for forecasting purposes. As an?illustration, consider the accompanying data that shows the U.S.?population, in millions of?persons, for some of the years between 1990 and?2013, inclusive. Complete parts?(a) through?(c) below.
Help me with B and C
b. Use technology to find the regression equation.
y= + ( )x ?
?(Round to three decimal places as?needed.)
c.Use the result from part? (b) to forecast the U.S. population for the years 2014 and 2015.
The forecast for the U.S. population in 2014 is _____ million people. (Round to one decimal place as? needed.)
The forecast for the U.S. population in 2015 is _____ million people. (Round to one decimal place as? needed.)
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