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Sales of a product for the last three years are given below Year Jan Feb Mar April May June Jul Aug Sep Oct Nov Dec
Sales of a product for the last three years are given below
Year | Jan | Feb | Mar | April | May | June | Jul | Aug | Sep | Oct | Nov | Dec |
1 | 800 | 795 | 815 | 800 | 805 | 812 | 820 | 830 | 825 | 820 | 810 | 800 |
2 | 802 | 795 | 812 | 802 | 804 | 814 | 825 | 835 | 824 | 814 | 808 | 798 |
3 | 798 | 800 | 810 | 804 | 806 | 816 | 826 | 834 | 822 | 816 | 810 | 804 |
i) Find the seasonal index for each of the months.
ii) Considering the available data for the last three years find the least square regression line y = a + b x, where
iii) Using the regression line found in ii) determine 4th year demand.
iv) Forecast the rounded-off monthly demand for each of the months of year 4.
b=x2nx2xynxy;a=ybxStep by Step Solution
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