Aviation Planning Course Work Questions 1 Through 8
Florida Institute of Technology
BISK
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Using the data provided below, develop a forecast for general aviation (GA) operations using effective buying income as the independent variable. You will need to reference Chapter 4 of the Aviation Planning Textbook for the methodology.
| Year | GA Operations (Y) | Effective Buying Income (X) |
| Historical | ||
| 1 | 22,513 | $8,433 |
| 2 | 23,768 | $9,207 |
| 3 | 21,838 | $10,106 |
| 4 | 25,904 | $10,457 |
| 5 | 26,208 | $11,055 |
| 6 | 26,946 | $11,016 |
| 7 | 27,977 | $11,399 |
| 8 | 27,294 | $11,883 |
| 9 | 28,647 | $12,119 |
| 10 | 29,270 | $12,213 |
Answer Questions 1 and 2 below.
1. Develop a forecast for the years 15, 20 and 30. What is your regression equation?
2. Complete the table shown below.
| Year | GA Operations (Y) | Effective Buying Income (X) |
| Forecast | ||
| 15 | $13,081 | |
| 20 | $14,609 | |
| 30 | $20,369 |
3. What is the coefficient of determination and what does it imply?
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