Statistics Solutions

(Steps Shown) The following table represents U.S. Manufactured General Aviation Shipments. 1966 -2003. Plot the above data. (Using Technology: i.e. Excel or

Question: The following table represents U.S. Manufactured General Aviation Shipments. 1966 -2003.

  1. Plot the above data. (Using Technology: i.e. Excel or MegaStat). Copy your graph to this Word document. Describe the pattern and discuss possible causes (0.50 point)
  2. Plot a similar graph of the subset of data starting from 1992 and going through 2003. Copy your graph to this Word document Describe the pattern. (0.50 point)
    (c) Fit an exponential trend to the plot you have exhibited in part (b), above. State the exponential fit equation. Would the exponential trend model be helpful in making a prediction for 2004? Make a forecast for 2004, using the fitted trend model, and another forecast for 2004, by just using a judgment forecast, just by eyeballing the most recent data. (0.75 point)
    (d) In part (b), we choose a subset (1992-2003). Why is it best to ignore earlier years in this data set. Explain! (0.25 point)
    Price: $2.99
    Solution: The downloadable solution consists of 3 pages
    Deliverable: Word Document


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