Statistical Analysis of Production Models and Time Series Forecasting

Posted by on Feb 28, 2025 in Business Statistics | 0 comments

Statistical Analysis of Production Models

a) Significance parameters: Divide the model (CAN, BARRELS) using a dummy variable CAN: assign a value of 1 or 0. Barrel: βo + β2(prodtotal – 100)+ β4(prodtotal-100)2 ; Can: (βo + β1) + (β2 + β3)(prdototal – 100) + (β4 + β5)(prodtotal – 100)2 + U

β0 = Expected barrel production when total production is 100hl, β1 = Expected difference between can production and barrel production when total is 100, β2 = Expected increase of barrel production when

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