Using the time series data in the table, respond to the following items. a. G raph the
Question:
Using the time series data in the table, respond to the following items.
a. G raph the data.
b. Based on the graph, describe the time series pattern.
c. For this time series, why is forecasting with a trend model appropriate?
d. E valuate a trend forecasting model using simple linear regression. What is the MAD?
e. What is the predicted annual change of industry sales?
f. Predict sales for the next three periods.
Transcribed Image Text:
Period Sales Period Sales $1001 10 $686 2 1129 11 909 841 12 469 4 1044 13 566 1012 14 488 6 703 15 688 7 682 16 675 8. 712 17 303 9 646 18 381 1,
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a b The graph shows a negative time series trend in sales c A trend model ...View the full answer
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Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
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