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The West Census region for the U.S. includes Montana, Wyoming, Colorado, New Mexico, Idaho, Utah, Arizona, Nevada, California, Oregon, and Washington. Consider the median house prices in the West Census region from 2010:01 through 2018:03, a portion of which is shown in the accompanying table. Year Quarter Price 2010 1 263300 2010 2 270200 2018 3 409700 pictureClick here for the Excel Data File a. Estimate linear and quadratic trend models with seasonal dummy variables. Which is the preferred model? based on the value of b. Use the preferred model to forecast the median house price in the West Census region for the fourth quarter of 2018. (Do not round coefficient estimates. Round your final answer to the nearest whole number.) Forecast for 4th Quarter, 2018

The West Census region for the U.S. includes Montana, Wyoming, Colorado, New Mexico, Idaho, Utah, Arizona, Nevada, California, Oregon, and Washington. Consider the median house prices in the West Census region from 2010:01 through 2018:03, a portion of which is shown in the accompanying table. Year Quarter Price 2010 1 263300 2010 2 270200 2018 3 409700 pictureClick here for the Excel Data File a. Estimate linear and quadratic trend models with seasonal dummy variables. Which is the preferred model? based on the value of b. Use the preferred model to forecast the median house price in the West Census region for the fourth quarter of 2018. (Do not round coefficient estimates. Round your final answer to the nearest whole number.) Forecast for 4th Quarter, 2018

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.3: Measures Of Spread
Problem 8PPS
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The West Census region for the U.S. includes Montana, Wyoming, Colorado, New Mexico, Idaho, Utah, Arizona, Nevada, California, Oregon, and Washington. Consider the median house prices in the West Census region from 2010:01 through 2018:03, a portion of which is shown in the accompanying table. Year Quarter Price 2010 1 263300 2010 2 270200 2018 3 409700 pictureClick here for the Excel Data File a. Estimate linear and quadratic trend models with seasonal dummy variables. Which is the preferred model? based on the value of b. Use the preferred model to forecast the median house price in the West Census region for the fourth quarter of 2018. (Do not round coefficient estimates. Round your final answer to the nearest whole number.) Forecast for 4th Quarter, 2018
Transcribed Image Text:The West Census region for the U.S. includes Montana, Wyoming, Colorado, New Mexico, Idaho, Utah, Arizona, Nevada, California, Oregon, and Washington. Consider the median house prices in the West Census region from 2010:01 through 2018:03, a portion of which is shown in the accompanying table. Year Quarter Price 2010 1 263300 2010 2 270200 2018 3 409700 pictureClick here for the Excel Data File a. Estimate linear and quadratic trend models with seasonal dummy variables. Which is the preferred model? based on the value of b. Use the preferred model to forecast the median house price in the West Census region for the fourth quarter of 2018. (Do not round coefficient estimates. Round your final answer to the nearest whole number.) Forecast for 4th Quarter, 2018
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