Question

A method is desired for projecting the future salary of U.S. Congressmen based on the historical record of yearly salaries for Congressmen over the previous 30 years. Select ALL that apply

a. One sample Test for Proportions

b. One sample Test for Means

c. 2 Sample Test for Means- independent

d. 2 Sample Test for Means – related (paired)

e. 2 Sample Test for Proportions

f. Time Series Forecasting

g. Correlation Analysis

h. One-way Analysis of Variance

i. Simple Linear Regression

j. Multiple Regression

k. Chi-square Test

Answer 1

As we need to forecast the future salaries, we can use multiple techniques

f)Time Series Forecasting

i)Simple Linear Regression

j)Multiple Linear regression.

Rest of the options given are corresponding to the hypothesis testing techniques and not foreasting.