If the least squares equation for a company time series starting in 2011 and ending in...
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If the least squares equation for a company time series starting in 2011 and ending in 2018 is Ŷ = 12.5 + 1.87t (in millions), what is the t and estimate for 2023?
Homework Answers
The estimate starts with 2011 so t = 0 for 2011. Hence,
For 2023, t = 2023 - 2011 = 12
Also,
Estimate for 2023 = 12.5 + 1.87*12 = 34.94 millions
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