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Ajax Chemicals found that the demand for its two best-selling paints - Yellow and Red - has grown over the last few years. Figure 1
Ajax Chemicals found that the demand for its two best-selling paints - Yellow and Red - has grown over the last few years. Figure 1 displays the quarterly demand ('000 lbs) of each of the two types of paints from year 2010 to 2014 (20 quarters in total). (a) Do you see any trend or seasonality (or both) in Figure 1? Examine which forecasting techniques might be appropriate for estimating future demand of Yellow and Red paints based on the data.
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