statistics

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Question 1

Shown below are rental and leasing revenue

figures for office machinery and equipment in the United

States over a seven-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.

Year Rental and Leasing ($ millions)

2004 5,860

2005 6,632

2006 7,125

2007 6,000

2008 4,380

2009 3,326

2010 2,642

Stats - MathGuru, Tuesday, August 21, 2012 at 1:38pm

Regression equation is in this format:
predicted y = a + bx
...where a = intercept and b = slope.

Determine the equation, then substitute 2012 for x to find predicted y (forecasting the rental and leasing revenue).

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