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Madelyn Davis is a research analyst for a large investment firm. She has been assigned the task of forecasting sales for W al-Mart Stores, Inc., for fiscal year 2011. She collects quarterly sales for Wal-Mart Stores, Inc. (in millions $) for the 10-year period 2001 through 2010, a portion of which is shown in the accompanying table. The full data set is on the text website, labeled Wal-Mart Sales.
Wal-Mart Quarterly Sales (in millions $)
Quarters Ended
Years
April 30
July 31
October 31
January 31
2001
42,985
46,112
45,676
56,556
2002
48,052
52,799
52,738
64,210
....
2010
93,471
100,082
98,667
112,826
In a report, use the sample information to:
1. Use a scatterplot to determine which model best depicts trend for Wal-Mart's sales.
2. Determine whether or not a seasonal component exists in the series, using the seasonal dummy variable approach.
3. Given the conclusions on trend and the seasonal component, provide forecast values for the four quarters of 2011 as well as total projected sales for fiscal year 2011.
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