Problem 4: Standing Tall is a roofing contractor of houses. Roofing normally is Done two months after the start of a house construction. Initially he relied on a simple linear trend regression forecast using just the months of the year and the number of roofing jobs generated. He felt there was something lacking in his forecasts. He decided to get the city hall housing permits per month to check the number of Jobs generated. 1. Set up the simple linear trend regression forecast using months and number of jobs. Is the regression model a good model? Why or why not? 2. Setup another model using months, permits and jobs. Determine if it is a good model 3. If so, determine the number of jobs generated for January the following year if 330 permits were issued. Month Permits Jobs Month Jobs 1 323 19 19 2 359 17 2 17 3 396 24 3 24 4 421 23 4 23 457 28 28 472 32 32 7 446 34 7 34 8 407 37 8 37 9. 374 33 33 10 343 30 10 30 11 311 27 11 27 12 277 22 12 22
Problem 4: Standing Tall is a roofing contractor of houses. Roofing normally is Done two months after the start of a house construction. Initially he relied on a simple linear trend regression forecast using just the months of the year and the number of roofing jobs generated. He felt there was something lacking in his forecasts. He decided to get the city hall housing permits per month to check the number of Jobs generated. 1. Set up the simple linear trend regression forecast using months and number of jobs. Is the regression model a good model? Why or why not? 2. Setup another model using months, permits and jobs. Determine if it is a good model 3. If so, determine the number of jobs generated for January the following year if 330 permits were issued. Month Permits Jobs Month Jobs 1 323 19 19 2 359 17 2 17 3 396 24 3 24 4 421 23 4 23 457 28 28 472 32 32 7 446 34 7 34 8 407 37 8 37 9. 374 33 33 10 343 30 10 30 11 311 27 11 27 12 277 22 12 22
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter3: Straight Lines And Linear Functions
Section3.CR: Chapter Review Exercises
Problem 15CR: Life Expectancy The following table shows the average life expectancy, in years, of a child born in...
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Transcribed Image Text:Problem 4: Standing Tall is a roofing contractor of houses. Roofing normally is
Done two months after the start of a house construction. Initially he relied on a simple
linear trend regression forecast using just the months of the year and the number of
roofing jobs generated. He felt there was something lacking in his forecasts.
He decided to get the city hall housing permits per month to check the number of
Jobs generated.
1. Set up the simple linear trend regression forecast using months and number of jobs.
Is the regression model a good model? Why or why not?
2. Setup another model using months, permits and jobs. Determine if it is a good model.
3. If so, determine the number of jobs generated for January the following year if 330
permits were issued.
Month Permits
Jobs
Month
Jobs
1
323
19
1
19
2
359
17
17
396
24
3
24
4
421
23
4
23
457
28
28
472
32
32
7
446
34
7
34
8
407
37
8
37
374
33
33
10
343
30
10
30
11
311
27
11
27
12
277
22
12
22
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