The Organisation for Economic Cooperation and Development co

The Organisation for Economic Co-operation and Development collects data on Main Economic Indicators (MEIs) for many countries. Each variable is recorded as an index with the year 2000 serving as a base year. This means that the variable for each year is reported as a ratio of the value for the year divided by the value for 2000. Use of indices in this way makes it easier to compare values for different countries. The following table gives the values of three MEIs for 21 countries:

1.) What is the predicted value of production for a country that has an index of 160 for dwelling permits?

(Use decimal notation. Give your answer with tolerance = ±1.)

2)The country with ID = 15 has an index of 160 for dwelling permits. Find the residual for this country.

(Residual is actual value minus predicted value.)

Please answer parts 1 and 2 using the charts provided above, if possible include your excel tables....Thanks.

(Use decimal notation. Give your answer with tolerance = ±1.)

Country ID	Dwelling permits	Sales	Production
1	119	134	114
2	128	106	109
3	220	122	102
4	180	134	159
5	124	125	109
6	108	136	127
7	149	122	103
8	52	100	119
9	117	133	105
10	113	138	153
11	96	125	140
12	85	101	105
13	158	113	159
14	145	165	115
15	160	104	107
16	123	143	112
17	129	131	92
18	163	139	158
19	52	112	106
20	122	118	105

1.) What is the predicted value of production for a country that has an index of 160 for dwelling permits?

(Use decimal notation. Give your answer with tolerance = ±1.)

2)The country with ID = 15 has an index of 160 for dwelling permits. Find the residual for this country.

(Residual is actual value minus predicted value.)

Please answer parts 1 and 2 using the charts provided above, if possible include your excel tables....Thanks.

(Use decimal notation. Give your answer with tolerance = ±1.)

Please find the link for downloading the original excel sheet at the end of this solution.

Thus the regression equation will be given by,

Production = 107.9 + 0.1 * Dwelling Permits

1. Production = 107.9 + 0.1 * 160 = 124

2. Residual = Actual - Predicted = 107 - 124 = -17

https://www.dropbox.com/s/9gk77pd6wcj5j9m/dwelling%20permits.xlsx?dl=0

SUMMARY OUTPUT

Regression Statistics
Multiple R	0.18
R Square	0.03
Adjusted R Square	-0.02
Standard Error	21.80
Observations	20

ANOVA
	df	SS	MS	F	Significance F
Regression	1	274.73	274.73	0.58	0.46
Residual	18	8554.22	475.23
Total	19	8828.95

	Coefficients	Standard Error	t Stat	P-value	Lower 95%	Upper 95%	Lower 95.0%	Upper 95.0%
Intercept	107.9	16.6	6.5	0.0	72.9	142.8	72.9	142.8
Dwelling permits	0.1	0.1	0.8	0.5	-0.2	0.4	-0.2	0.4

The Organisation for Economic Co-operation and Development collects data on Main Economic Indicators (MEIs) for many countries. Each variable is recorded as an

The Organisation for Economic Cooperation and Development co

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