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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. Y = - 11.156 + 28.6500X; Y, = 21.34 + 0.797X; + 3.4816X? X Click the icon to view the data table. Yearly Amount of Solar Power Installed a. Compute the standard error of the estimate (Syx ) for each model. Year Amount Linear Quadratic megawatts) SYx 0 0 2000 17 2001 23 (Round to three decimal places as needed.) 2002 43 2003 70 b. Compute the MAD for each model. 2004 78 99 Linear Quadratic 2005 2006 140 MAD 0 0 2007 211 (Round to three decimal places as needed.) 2008 250 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. Print Done
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