Aviation Planning course work questions 1 through 8
Florida Institute of Technology
BISK
Using the data provided below, develop a forecast for general aviation (GA) operations using effective buying income as the independent variable. You will need to reference Chapter 4 of the Aviation Planning Textbook for the methodology.
|
Year |
GA Operations (Y) |
Effective Buying Income (X) |
|
Historical |
||
|
1 |
22,513 |
$8,433 |
|
2 |
23,768 |
$9,207 |
|
3 |
21,838 |
$10,106 |
|
4 |
25,904 |
$10,457 |
|
5 |
26,208 |
$11,055 |
|
6 |
26,946 |
$11,016 |
|
7 |
27,977 |
$11,399 |
|
8 |
27,294 |
$11,883 |
|
9 |
28,647 |
$12,119 |
|
10 |
29,270 |
$12,213 |
Answer Questions 1 and 2 below.
1. Develop a forecast for the years 15, 20 and 30. What is your regression equation?
2. Complete the table shown below.
|
Year |
GA Operations (Y) |
Effective Buying Income (X) |
|
Forecast |
||
|
15 |
|
$13,081 |
|
20 |
|
$14,609 |
|
30 |
|
$20,369 |
3. What is the coefficient of determination and what does it imply?
1