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As part of your role in the Business Analytics and Data Analytics team, you have been asked to forecast Food Retailing as part of a
As part of your role in the Business Analytics and Data Analytics team, you have been asked to forecast Food Retailing as part of a wider report being commissioned by the above collaboration - on Australia's food security. For the purposes of this report, only consider the data from January 2011 to December 2020 as the sample of data that is available to you in the Excel file that has been provided to you here. This means that the first actual observation in your Excel file is from January 2011 and your last actual observation in your Excel file is from December 2020. For the Original data: Forecast food retailing for every month of 2021 using a multiple linear regression with an intercept, time as an explanatory variable, and 11 dummy variables for all months except December - hence use December as the base. Once you perform this regression, answer the following questions: In this regression, what is the dependent variable?
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