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The accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations
The accompanying data represent the yearly amount of solar power installed (in megawatts) in a particular area from 2000 through 2008. The trend forecasting equations below were found, where X is the number of years after 2000. Complete parts (a) through (d) below. Yi = - 8.356 + 28.1167X; Yi = 23.65 + 0.679X; + 3.4297X, Year Amount (megawatts) 2000 22 2001 24 2002 40 2003 70 2004 86 2005 98 2006 139 2007 211 2008 247 a. Compute the standard error of the estimate (Syx ) for each model. Linear Quadratic Syx (Round to three decimal places as needed.) b. Compute the MAD for each model. Linear Quadratic MAD 0 0 (Round to three decimal places as needed.) c. On the basis of (a) and (b) and the principle of parsimony, which forecasting model would you select? The model with the values of Syx and MAD should be used, which is the model
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