I need assistance with parts a, b, and c. Because of high tuition costs at state and private universities, enrollments at community colleges have increased dramatically in recent years. The following data show the enrollment (in thousands) for Jefferson Community College for the nine most recent years. Click on the datafile logo to reference the data. Year Period (t) Enrollment(1,000s) 2001 1 6.5 2002 2 8.1 2003 3 8.4 2004 4 10.2 2005 5 12.5 2006 6 13.3 2007 7 13.7 2008 8 17.2 2009 9 18.1 A. Choose the correct time series plot. What type of pattern exists in the data? Positive trend pattern or negative trend pattern B. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. If required, round your answers to two decimal places. y-intercept, b0 = Slope, b1 = MSE= C. What is the forecast for year 10? Do not round your interim computations and round your final answer to two decimal places.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
I need assistance with parts a, b, and c.
Because of high tuition costs at state and private universities, enrollments at community colleges have increased dramatically in recent years. The following data show the enrollment (in thousands) for Jefferson Community College for the nine most recent years. Click on the datafile logo to reference the data.
| Year | Period (t) |
Enrollment (1,000s) |
| 2001 | 1 | 6.5 |
| 2002 | 2 | 8.1 |
| 2003 | 3 | 8.4 |
| 2004 | 4 | 10.2 |
| 2005 | 5 | 12.5 |
| 2006 | 6 | 13.3 |
| 2007 | 7 | 13.7 |
| 2008 | 8 | 17.2 |
| 2009 | 9 | 18.1 |
A. Choose the correct time series plot. What type of pattern exists in the data? Positive trend pattern or negative trend pattern
B. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. If required, round your answers to two decimal places.
| y-intercept, b0 = | |
| Slope, b1 = | |
| MSE= |
C. What is the forecast for year 10? Do not round your interim computations and round your final answer to two decimal places.
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 2 images
