Solution-Construct a time series plot

Construct a time series plot

Assignment Help Basic Statistics

Reference no: EM132855234

The quarterly sales data (number of copies sold) for a college textbook over the past three hears follow

Quarter Year 1 Year 2 Year 3

1 1690 1800 1850

2 940 900 1100

3 2625 2900 2930

4 2500 2360 2615

a. Construct a time series plot. What type of pattern exists in the data?

b. Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr 1=1 if Qtr 1, 0 otherwise; Qtr 2=1 if Qtr 2, 0 otherwise; Qtr 3=1 if Qtr 3, 0 otherwise

c. Compute the quarterly forecasts for next year

d. Let t=1 to refer to the observation in quarter 1 of year 1;........; and t=12 to refer to the observation in quarter 4 of year 3. Using the dummy variables defined in part b and also using t, develop an equation to account for seasonal effects in the data and linear trend, compute the quarterly forecasts for next year

e. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1-1511.67QTR2 + 326QTR3+ 23.13t; what is the forecast for period 13? Round to the nearest hundredth

f. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 14? Round to the nearest hundredth

g. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 15? Round to the nearest hundredth

h. Regression analysis yields the following forecast equation: 2491.67 - 711.67QTR1 - 1511.67QTR2 + 326.67QTR3 + 23.13t; what is the forecast for period 16? Round to the nearest hundredth

Reference no: EM132855234

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Construct a time series plot

Reference no: EM132855234

Reference no: EM132855234

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