BSOP 330 Week 2 Lab Assignments Chapter Four Problems 4.23, 4.27, 4.33, and 4.35
Chapter Four Problems 4.23, 4.27, 4.33, and 4.35.
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- a) Compute MAD and MAPE for management’s technique
- b) Do management’s results outperform (i.e., have smaller MAD and MAPE than) a naive forecast?
- c) Which forecast do you recommend, based on lower forecast error?
4.33
- a) Forecast the number of transistors to be made next year, using linear regression.
- b) Compute the mean squared error (MSE) when using linear regression.
- c) Compute the mean absolute percent error (MAPE).
4.35
- a) Use the model to predict the selling price of a house that is 1,860 square feet.
- b) A 1,860-square-foot house recently sold for $95,000. Explain why this is not what the model predicted.
- c) If you were going to use multiple regression to develop such a model, what other quantitative variables might you include?
- d) What is the value of the coefficient of determination in this problem?
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