Solution-Develop a regression model to fit the trend effects

Develop a regression model to fit the trend effects

Reference no: EM13247830

The ‘Economic Report to theDirectorincluded data on the amountsof manufacturers' new and unfilled orders in millions of dollars. Shown beloware the figures for new orders over a 21-year period.

a) Use Excel to develop a regression model to fit the trend effects for the data. Use a linear model and then try a quadratic model.

b) How well does either model fit the data?

Year	Total number or new orders
1	55022
2	55921
3	64182
4	76003
5	87327
6	85139
7	99513
8	115109
9	131629
10	147604
11	156359
12	168025
13	162140
14	175451
15	192879
16	195706
17	195204
18	209389
19	227025
20	240758
21	243643

For this question you will need to use the regression tool from the Analysis Toolpak.

Reference no: EM13247830

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Develop a regression model to fit the trend effects

Reference no: EM13247830

Reference no: EM13247830

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