Estimate the least squares regression line

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Reference no: EM13104390

For the data below:

Year

Automobile Sales

Year

Automobile Sales

1990

116

1997

119

1991

105

1998

34

1992

29

1999

34

1993

59

2000

48

1994

108

2001

53

1995

94

2002

65

1996

27

2003

111

(a)           Determine the least squares regression line using Excel.

(b)           Determine the predicted value for 2004.

(c)           Determine the 3 month moving average.

(d)           Determine the MSE for the trend line (in a) and the 3 month moving average (in c.) Which forecasting method is better? Explain.

 

 

Reference no: EM13104390

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