Below are some values of a time series consisting of 26 time periods. $\begin{array}{ll}\text { Time Period } & \text { Time Series Value } \\1 & 37 \\2 & 48 \\3 & 50 \\4 & 63\\.\\.\\.\\23 & 105 \\24 & 107 \\25 & 112 \\26 & 114\end{array}$ The estimated regression equation for these data is Y_t = 16.23 + .52Yt_-1 + .37Yt-₂
The forecasted value for time period 27 is _____.

Question

Below are some values of a time series consisting of 26 time periods.

\begin{array}{ll}\text { Time Period } & \text { Time Series Value } \\1 & 37 \\2 & 48 \\3 & 50 \\4 & 63\\.\\.\\.\\23 & 105 \\24 & 107 \\25 & 112 \\26 & 114\end{array}

The estimated regression equation for these data is Y_t = 16.23 + .52Yt_-1 + .37Yt-₂
The forecasted value for time period 27 is _____.

Quizplus · Accepted Answer

The forecasted value for time period 27 can be calculated using the given regression equation: Y = 16.23 + 0.52Y(t-1) + 0.37Y(t-2). Substituting Y(26) = 114 and Y(25) = 112 into the equation gives: 16.23 + 0.52*114 + 0.37*112 = 16.23 + 59.28 + 41.44 = 116.95.

Below Are Some Values of a Time Series Consisting of 26