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3) The following data represents the monthly electrical expense for an office space over the past three years. You are considering opening a new business
3) The following data represents the monthly electrical expense for an office space over the past three years. You are considering opening a new business in this office space and are preparing an expected budget for your business plan. Month Year 1 Year 2 Year 3 January 170 180 195 February 180 205 210 March 205 215 230 April 230 245 280 May 240 265 290 June 315 330 390 July 360 400 420 August 290 335 330 September 240 260 290 October 240 270 295 November 230 255 280 December 195 220 250 a) Using seasonality with no trend and multiplicative decomposition, what are your expected electricity expenses, by month, for the next year? b) Using seasonality with trend and multiplicative decomposition, what are your expected electricity expenses, by month, for the next year? e) Compare the results between your predictions in parts a and b. Which set of predictions would you use in your planning? Explain your
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