Posted by Tony on Monday, July 8, 2013 at 11:53am.
Shown below are rental and leasing revenue figures for office machinery and equipment in the United States over a severyear period according to the U.S. Census Bureau. Use these data to run a linear regression and then forecast the rental and leasing revenue for the year 2012.
2004 5,860
2005 6,632
2006 7,125
2007 6,000
2008 4,380
2009 3,326
2010 2,642

statistics  Steve, Monday, July 8, 2013 at 12:09pm
Just go to your favorite regression calculator, and if y(x) is the line estimating x years after 2004,
y = 7174.75  678.964x
So, for 2012,
y(8) = 972.77
It's not likely that we will get a negative value, and indeed we see that since the data rise and then fall, a linear model isn't very good in this case.

statistics  Tony, Monday, July 8, 2013 at 12:18pm
Y=71745678.964x =6495.786
So for 2012,
y (8) = 972.77
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