Question
Please answer the question below based on pic I have attached(Table 5) The executive director, Marv Harnishfeger, concluded that the most important variable that Consumer
Please answer the question below based on pic I have attached(Table 5)
The executive director, Marv Harnishfeger, concluded that the most important variable that Consumer Credit Counseling (CCC) needed to forecast was the number of new clients that would be seen for the rest of 1993. Marv provided Dorothy Mercer with monthly data for the number of new clients seen by CCC for the period from January 1985 through March 1993 (Table 5).
Dorothy was very happy with your forecasting work so far. However, you are not completely satisfied. You tell her that she should try one of the most powerful techniques used in forecasting, the Box-Jenkins methodology and ARIMA models. Dorothy has never heard of Box-Jenkins but is willing to have you give it a try.
Question: Develop an ARIMA model using the Box-Jenkins methodology, and forecast the monthly number of new clients for the rest of 1993.
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