GB 513 Course Great Wisdom / tutorialrank.com GB 513 Course Great Wisdom / tutorialrank.com | Page 16

The “Economic Report to the President of the United States”
included data on the amounts of manufacturers’ new and
unfilled orders in millions of dollars. Shown here are the
figures for new orders over a 21-year period. Use Excel to
develop a regression model to fit the trend effects for these
data. Use a linear model and then try a quadratic model. How
well does either model fit the data?
Year Total Number of New Orders
1. 1 55,022
2. 2 55,921
3. 3 64,1 82
4.4 76,003
5. 5 87,327
6. 6 85,139
7. 8 115,109
9. 9 131,629
10. 10 147,604
11. 11 156,359
12. 12 168,025
13. 13 162,140