Between the Rivers Limestone (BTR), LLC located in Grand Rivers, Kentucky is dev
ID: 376146 • Letter: B
Question
Between the Rivers Limestone (BTR), LLC located in Grand Rivers, Kentucky is developing a 3. forecast of the amount of tons of Highway Grade "A" limestone rock it sells. BTR believes the amount sold is related to the number of new and upgrade road project starts in its sales region. Data for the amount of rock sold and the number of project (new and upgrades)starts (based on approved projects) is as follows: Tons of Limestone (Highway Grade) Sold Each Year to projects (expressed as thousands of tons) 10 16 Year Road (Highway) Project Starts each Year in the Region in which BTR sells limestone 1(2011) 2(2012) 3 (2013) 4(2014) 28 18 28 32 14 18 10 38 20 16 31 5 (2015) 6(2016) (2017) Develop a linear regression model based on the data. Determine the strength of the linear relationship between the projects and the tons of highway grade limestone sold using correlation analysis. Develop a forecast for each of the next two years if 40 new or upgrade highway projects are expected in 2018 and 30 projects in 2019. Would you recommend that BTR use this regression model as the company's main forecast method? Why or Why not? (25 Points Value)Explanation / Answer
tons of limestone (forecastedinUsing regression equation
Year No. Tons of Limestone sold Road Project startstons of limestone (forecastedinUsing regression equation
2011 1 10 14 15 2012 2 16 18 18 2013 3 8 10 12 2014 4 28 38 32 2015 5 18 20 19 2016 6 28 16 16 2017 7 32 31 27 2018 8 40 34 2019 9 30 26Related Questions
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