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(Using Regression Analysis to Estimate Trend) Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since
(Using Regression Analysis to Estimate Trend) Shoreline Park in Mountain View, California, has kept close tabs on the number of patrons using the park since its opening in January 1993. For the first six months of 2022, the following figures were recorded: Table 1: Data for Problem 1 (a) Assume that January = period 1, February = period 2, and so on. Let the period number be the independent variable in the regression analysis. Compute the exact values of the intercept and the slope from the regression equations. (b) What are the forecasts obtained for July through December 2022 from the regression equation determined in part (a)? (c) Comment on the results you obtained in part (b). Specifically, how confident would you be about the accuracy of the forecasts that you obtained? (d) Determine the forecast for the total number of people using the park in 2022 based on the regression equation
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