Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Quarterly snow blower sales ($ thousands) along with income ($ billions) are collected from March 2007 through December 2016 (Snow blower sales data.xlsx) Using income
- Quarterly snow blower sales ($ thousands) along with income ($ billions) are collected from March 2007 through December 2016 ("Snow blower sales data.xlsx")
- Using income and seasonality (where the first quarter is the baseline group), fit a regression model to forecast quarterly sales. Provide the equation of the line fit and interpret the slope parameters
- Evaluate the model
- Check the model assumptions
- If income was $650 (billion) during the third quarter, what would be the forecasted snow blower sales?
DATA:
Period | Sales | Income |
Mar-07 | 72962 | 218 |
Jun-07 | 81921 | 237 |
Sep-07 | 97729 | 263 |
Dec-07 | 142161 | 293 |
Mar-08 | 145592 | 318 |
Jun-08 | 117129 | 359 |
Sep-08 | 114159 | 404 |
Dec-08 | 151402 | 436 |
Mar-09 | 153907 | 475 |
Jun-09 | 100144 | 534 |
Sep-09 | 123242 | 574 |
Dec-09 | 128497 | 622 |
Mar-10 | 176076 | 667 |
Jun-10 | 180440 | 702 |
Sep-10 | 162665 | 753 |
Dec-10 | 220818 | 796 |
Mar-11 | 202415 | 858 |
Jun-11 | 211780 | 870 |
Sep-11 | 163710 | 934 |
Dec-11 | 200135 | 1,010 |
Mar-12 | 174200 | 1,066 |
Jun-12 | 182556 | 1,096 |
Sep-12 | 198990 | 1,162 |
Dec-12 | 243700 | 1,187 |
Mar-13 | 253142 | 1,207 |
Jun-13 | 218755 | 1,242 |
Sep-13 | 225422 | 1,279 |
Dec-13 | 253653 | 1,318 |
Mar-14 | 257156 | 1,346 |
Jun-14 | 202568 | 1,395 |
Sep-14 | 224482 | 1,443 |
Dec-14 | 229879 | 1,528 |
Mar-15 | 289321 | 1,613 |
Jun-15 | 266095 | 1,646 |
Sep-15 | 262938 | 1,694 |
Dec-15 | 322052 | 1,730 |
Mar-16 | 313769 | 1,755 |
Jun-16 | 315011 | 1,842 |
Sep-16 | 264939 | 1,832 |
Dec-16 | 301479 | 1,882 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started