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Shown below are rental and leasing revenue figures for office machinery and equipment in the United States over a sever-year 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 - ,

    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 - ,

    Y=71745-678.964x =6495.786
    So for 2012,
    y (8) = -972.77

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