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Demand for 5 weeks of jobs at a carpet-cleaning business is shown below. Use linear regression to create a trend equation for this time-series. Week
- Demand for 5 weeks of jobs at a carpet-cleaning business is shown below. Use linear regression to create a trend equation for this time-series.
Week (X) | Demand (Y) | ||||
1 | 55 | ||||
2 | 60 | ||||
3 | 41 | ||||
4 | 35 | ||||
5 | 20 |
The trend equation is:
- Y = 70.7 + 9.5X
- Y = 70.7 + 2.5X
- Y = 70.7 - 9.5X
- Y = -70.7 - 2.5X
Use the following table for question 2
Week | Monday | Tuesday | Wednesday | Thursday | Friday |
1 | 8 | 15 | 25 | 13 | 2 |
2 | 12 | 25 | 34 | 17 | 7 |
2. Compute and report Wednesday's Seasonal Factor.
- 0.37
- 0.24
- 0.19
- 0.42
3.Assume 5 years of monthly data was used to create a seasonally-adjusted forecasting model. Trend equation for the 5 years was found to be: y = 85 + 3.7X. Seasonal factors are reported in the table below. Compute a seasonally-adjusted forecast for quarter 2 of year 7.
QTR1 | QTR2 | QTR3 | QTR4 |
0.24 | 0.45 | 0.15 | 0.1 |
- 49.9
- 110.9
- 45.0
- 23.1
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