Monthly loan applications for a local bank from 2006 through 2009 were as shown in the table.
Question:
a. Combining the monthly applications for each year, fit a linear trend equation and forecast the number of applications for 2012.
b. Determine the seasonal indexes and break the 2012 forecast in part (a) into its monthly components.
c. Combining monthly applications for each year, use exponential smoothing and α = 0.4 to obtain a forecast for 2010.
d. Use the seasonal indexes to break the 2010 forecast in part (c) into its monthly components.
Transcribed Image Text:
2006 3028 32 33 32 32 2007 22 26 30 36 35 40 2008 19 22 30 31 31 36 2009 2928 42 47 49 53 2006 2007 436 32 34 23 19 2008 3937 36 36 32 29 2009 5 55 50 46 36 33 39 44 48 47 33 28
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a After combining the monthly loan applications into yearly totals we can use Excel to determine the linear trend equation With x 1 for 2006 the equat...View the full answer
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