Question
Demand for oil changes at Garcia's Garage has been as follows: Month Number of Oil Changes January 47 February 47 March 60 April 48 May
Demand for oil changes at Garcia's Garage has been as follows:
Month Number of Oil Changes
January 47 February 47 March 60 April 48 May 51 June 56 July 51 August 71
a. Use simple linear regression analysis to develop a forecasting model for monthly demand. In this application, the dependent variable, Y, is monthly demand and the independent variable, X, is the month. For January, let X1; for February, let X2; and so on. The forecasting model is given by the equation Y= _+_X (Enter your responses rounded to two decimal places.)
Use simple linear regression analysis to develop a forecasting model for monthly demand. In this application, the dependent variable, Y, is monthly demand and the independent variable, X, is the month. For January, let X1; for February, let X2; and so on.
The forecasting model is given by the equation Y=44.29+2.13X. (Enter your responses rounded to two decimal places.)
b. Use the model to forecast demand for September, October, and November. Here, X9, 10, and 11, respectively. (Enter your responses rounded to two decimal places.)
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