The results of a quadratic model fit to time-series data were ?_t = 7.5 - 0.2t + 2.8t², where t = 1 for 2002. The forecast value for 2011 is: A) 289.5. B) 285.5. C) 236.1. D) 232.5.

Question

Quizplus · Accepted Answer

To find the forecast value for 2011, we need to substitute t = 10 (2011-2002 = 9, and t = 1 corresponds to 2002) in the given quadratic model. Thus, ŷ_t = 7.5 F1F1F1S1F1F1F10 + 0.2(10) + 2.8(10)² ŷ_t = 285.5 Therefore, the forecast value for 2011 is 285.5.

The Results of a Quadratic Model Fit to Time-Series Data