Freight car loadings over an 18-week period at a busy port are as follows:
Week |
Number |
Week |
Number |
Week |
Number |
1 |
220 |
7 |
350 |
13 |
487 |
2 |
245 |
8 |
360 |
14 |
475 |
3 |
269 |
9 |
436 |
15 |
513 |
4 |
275 |
10 |
380 |
16 |
510 |
5 |
316 |
11 |
425 |
17 |
517 |
6 |
310 |
12 |
450 |
18 |
541 |
Required:
Question 1) Determine a linear trend line for expected freight car loadings.
Question 2) Use the trend equation to predict expected loadings for weeks 24 and 25.
Question 3) The manager intends to install new equipment when the volume exceeds 842 loadings per week. Assuming the current trend continues, the loading volume will reach that level in approximately how many more weeks? Solve the problem and show all work.