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    Statistics for Business and Economics Study Set 2
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    Exam 17: Time Series Analysis and Forecasting
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    Below You Are Given Information on John's Income for the Past
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Below You Are Given Information on John's Income for the Past

Question 54

Question 54

Essay

Below you are given information on John's income for the past 7 years. Below you are given information on John's income for the past 7 years.    a.Use regression analysis to obtain an expression for the linear trend component. b.Forecast John's income for the next 5 years.
a.Use regression analysis to obtain an expression for the linear trend component.
b.Forecast John's income for the next 5 years.

Correct Answer:

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a.T = 14.3857 + 0.86...

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