Forecasting Causal regression analysis
Input Data Forecast Error Analysis
Period
Dep Variable
(or) (Y)
Indep Variable
(or) (X)
Forecast Error
Absolute
error
Squared
error
Absolute
% error
Year 1 30 67.3 27.003 2.997 2.997 8.982 9.99%
Year 2 27 70.6 28.802 -1.802 1.802 3.246 6.67%
Problem 11-28
50
60
65
60.0 70.0 80.0 90.0 100.0 110.0 120.0 130.0
Crime Rate, X
Regression Line
0
10
60
70
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Period
Actual vs. Forecast