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PLEASE SUBMIT IT IN EXCEL FILEThe file Download FinalQuestion2.xlsx contains quarterly data on pork sales. Price is in dollars per hundred pounds, quantity sold is in billions of pounds, per...

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PLEASE SUBMIT IT IN EXCEL FILE


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Download FinalQuestion2.xlsx

contains quarterly data on pork sales. Price is in dollars per hundred pounds, quantity sold is in billions of pounds, per capita income is in dollars, U.S. population is in millions, and GDP is in billions of dollars.



  1. Use the data to develop a regression equation that could be used to predict the quantity of pork sold during future periods. Determine what variables should be included in the model. Discuss how you can tell whether unequal variance or multicollinearity might be a problem.

  2. Suppose that during each of the next two quarters, price is 45, U.S. population is 240, GDP is 2620, and per capita income is 10,000. (These are in the units described previously.) Predict the quantity of pork sold during each of the next two quarters and provide a 95% prediction interval.

copy-of-finalquestion2-ionpj3s1.xlsx
Answered Same Day Dec 12, 2022

Solution

Rochak answered on Dec 13 2022
52 Votes
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    Quarter    Pork Sales    Pork...
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