Use a causal forecasting approach to develop a forecasting

Assignment Help Basic Statistics

Reference no: EM131105011

Joe Barnes is the owner of Standing Tall, one of the major roofing companies in town. Much of the company's business comes from building roofs on new houses. Joe has learned that general contractors constructing new houses typically will subcontract the roofing work about 2 months after construction begins. Therefore, to help him develop long-range schedules for his work crews, Joe has decided to use county records on the number of housing construction permits issued each month to forecast the number of roofing jobs on new houses he will have 2 months later. Joe has now gathered the following data for each month over the past year, where the second column gives the number of housing construction permits issued in that month and the third column shows the number of roofing jobs on new houses that were subcontracted out to Standing Tall in that month.

Use a causal forecasting approach to develop a forecasting procedure for Joe to use hereafter.

Reference no: EM131105011

Questions Cloud

Identify nutritional needs for a developing embryo and fetus : Identify the nutritional needs for a developing embryo and fetus and how to obtain them. Identify health concerns or disease associated with poor nutrition during the gestation period.

What is the noise figure of the receiver : What is the noise figure of the receiver?

Fit a least-squares line to the data : The following data relate road width x and accident frequency y. Road width (in feet) was treated as the independent variable, and values y of the random variable Y, in accidents per 108 vehicle miles, were observed.

Explore a recent or emerging form of technology : Provide an introduction that defines both technology and social change, and discusses how they are related. Discuss the impact of the personal computer, cellular phones, and the Internet on society.

Use a causal forecasting approach to develop a forecasting : Joe Barnes is the owner of Standing Tall, one of the major roofing companies in town. Much of the company's business comes from building roofs on new houses. Joe has learned that general contractors constructing new houses typically will subcontra..

Methods of calculating cash flow from operations : State the difference between direct and indirect methods of calculating cash flow from operations?

Which selection of µ would make e-rt xt a martingale : This exercise deals with obtaining martingales. Suppose Xt is a geometric process with drift μ and diffusion parameter σ.(a) When would the e-rt Xt be a martingale? That is, when would the following equality hold. (b) More precisely, remember from th..

The dependent variable and the independent variable : To support its large fleet, North American Airlines maintains an extensive inventory of spare parts, including wing flaps. The number of wing flaps needed in inventory to replace damaged wing flaps each month depends partially on the number of fly..

Prove that f is continuous if and only if graph is compact : Let f: [0, 1] → R be a function. The "graph" of f is the following subset of R2: G = {(x, f(x)) | x ∈ [0, 1]}. Prove that f is continuous if and only if its graph is compact

User Account

All Pages