Reference no: EM132600035
BEO1106 Business Statistics - Victoria University
Case Study - Time Series and Index Numbers
The Average Weekly Earnings ($/Week) for all employees in Australia are provided for 2006 to 2009.
|
Year
|
AWE ($/Week)
|
|
2006
|
989
|
|
2007
|
1039
|
|
2008
|
1082
|
|
2009
|
1131
|
Task 1. Determine the three year moving average for 2007 and 2008.
Task 2. Determine the exponentially smoothed value (w = 0.4) for 2008.
Task 3. Forecast the 2012 AWE by applying the least squares trend estimate provided:
|
|
Coefficients
|
Standard Error
|
t Stat
|
P-value
|
|
Intercept
|
989.9
|
1.745
|
567.28
|
3.11E-06
|
|
Year
|
46.9
|
0.933
|
50.28
|
0.000395
|
Note: In 2006, X2006 = 0; in 2007, X2007 = 1; in 2008, X2008 = 2, etc.
Task 4. The table below shows the forecasted AWE for the four years using two different forecasting techniques: F1 and F2.
|
|
|
F1
|
F2
|
|
Year
|
AWE
($/Week)
|
Time Trend
|
Exp (W=0.8)
|
|
2006
|
989
|
990
|
989
|
|
2007
|
1039
|
1037
|
1029
|
|
2008
|
1082
|
1084
|
1071
|
|
2009
|
1131
|
1130
|
1119
|
Determine the Mean Absolute Deviation (MAD) for F1 and F2. Which of the two techniques, F1 or F2, would be the preferred technique?
Task 5. The mean weekly disposable household incomes (MDHI) for Victoria for selected years are presented in the table below:
|
Financial Year
|
MDHI ($)
|
|
1994-95
|
594
|
|
1999-2000
|
666
|
|
2005-06
|
805
|
|
2013-14
|
959
|
Using 1994-95 as the base year, determine the simple index for all other years in the table.
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BEO1106 Business Statistics Assignment
: BEO1106 Business Statistics Assignment Help and Solution, Victoria University - Assessment Writing Service - Case Study - Time Series and Index Numbers
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