Homework SourseConsider the data in the Excel file Nuclear Power Use simple
Consider the data in the Excel file Nuclear Power. Use simple linear regression to forecast the data. What would be the forecasts for the next 3 years?
| Nuclear Electric Power Production (Billion KWH) | |||||
| Year | US | Canada | France | ||
| 1980 | 251.12 | 35.88 | 63.42 | ||
| 1981 | 272.67 | 37.8 | 99.24 | ||
| 1982 | 282.77 | 36.17 | 102.63 | ||
| 1983 | 293.68 | 46.22 | 135.99 | ||
| 1984 | 327.63 | 49.26 | 180.47 | ||
| 1985 | 383.69 | 57.1 | 211.19 | ||
| 1986 | 414.04 | 67.23 | 239.56 | ||
| 1987 | 455.27 | 72.89 | 249.27 | ||
| 1988 | 526.97 | 78.18 | 260.29 | ||
| 1989 | 529.35 | 75.35 | 288.72 | ||
| 1990 | 576.86 | 69.24 | 298.38 | ||
| 1991 | 612.57 | 80.68 | 314.77 | ||
| 1992 | 618.78 | 76.55 | 321.52 | ||
| 1993 | 610.29 | 90.08 | 349.78 | ||
| 1994 | 640.44 | 102.44 | 341.98 | ||
| 1995 | 673.4 | 92.95 | 358.37 | ||
| 1996 | 674.73 | 88.13 | 377.47 | ||
| 1997 | 628.64 | 77.86 | 375.71 | ||
| 1998 | 673.7 | 67.74 | 368.59 | ||
| 1999 | 728.25 | 69.82 | 374.53 | ||
| 2000 | 753.89 | 69.16 | 394.4 | ||
| 2001 | 768.83 | 72.86 | 400.02 | ||
| 2002 | 780.06 | 71.75 | 414.92 | ||
| 2003 | 763.73 | 71.15 | 419.02 | ||
| 2004 | 788.53 | 85.87 | 425.83 | ||
| 2005 | 781.99 | 87.44 | 428.95 | ||
| 2006 | 787.22 | 93.07 | 427.68 |
Solution
Sol)
Let ue take Regression line between year and US
The regression equation is
y=a+bx
where y is US and x is year
from excel
The fitted regression equation is
y=-43276.4+22.004 (Year)
Now forecasts for next 3 years
when x=2007 then y =y=-43276.4+22.004 (Year)
y=-43276.4+22.004 (2007)= 885.628
when x=2008 then y =y=-43276.4+22.004 (Year)
y=-43276.4+22.004 (2008)=907.632
when x=2009 then y =y=-43276.4+22.004 (Year)
y=-43276.4+22.004 (2009)=929.636
| Coefficients | Standard Error | |
| Intercept | -43276.4 | 2276.032653 |
| year | 22.004 | 1.142004652 |
