Use this information to answer the following questions.
The following time series represent the total population of the United States,in thousands,over the last 12 years.
$$\begin{array} { | c | c | }
\hline \text { Year } & \text { Population (in 000s) } \
\hline 1991 & 253,493 \
\hline 1992 & 256,894 \
\hline 1993 & 260,255 \
\hline 1994 & 263,436 \
\hline 1995 & 266,557 \
\hline 1996 & 269,667 \
\hline 1997 & 272,912 \
\hline 1998 & 276,115 \
\hline 1999 & 279,295 \
\hline 2000 & 282,434 \
\hline 2001 & 285,545 \
\hline 2002 & 288,600 \
\hline
\end{array}$$
-Refer to the table above.a.What is the linear trend equation that best fits the data?
b.What is the forecast of the population of the United States in 2003 using the linear trend equation?
c.What is the MAPE for this method?

Question

Use this information to answer the following questions.
The following time series represent the total population of the United States,in thousands,over the last 12 years.
 $$\begin{array} { | c | c | } 
\hline \text { Year } & \text { Population (in 000s) } \
\hline 1991 & 253,493 \
\hline 1992 & 256,894 \
\hline 1993 & 260,255 \
\hline 1994 & 263,436 \
\hline 1995 & 266,557 \
\hline 1996 & 269,667 \
\hline 1997 & 272,912 \
\hline 1998 & 276,115 \
\hline 1999 & 279,295 \
\hline 2000 & 282,434 \
\hline 2001 & 285,545 \
\hline 2002 & 288,600 \
\hline
\end{array}$$
-Refer to the table above.a.What is the linear trend equation that best fits the data?
b.What is the forecast of the population of the United States in 2003 using the linear trend equation?
c.What is the MAPE for this method?

Quizplus · Accepted Answer

The Answer of Use this information to answer the following questions.
The following time series represent the total population of the United States,in thousands,over the last 12 years.
 $$\begin{array} { | c | c | } 
\hline \text { Year } & \text { Population (in 000s) } \
\hline 1991 & 253,493 \
\hline 1992 & 256,894 \
\hline 1993 & 260,255 \
\hline 1994 & 263,436 \
\hline 1995 & 266,557 \
\hline 1996 & 269,667 \
\hline 1997 & 272,912 \
\hline 1998 & 276,115 \
\hline 1999 & 279,295 \
\hline 2000 & 282,434 \
\hline 2001 & 285,545 \
\hline 2002 & 288,600 \
\hline
\end{array}$$
-Refer to the table above.a.What is the linear trend equation that best fits the data?
b.What is the forecast of the population of the United States in 2003 using the linear trend equation?
c.What is the MAPE for this method?

Use This Information to Answer the Following Questions -Refer to the Table Above