Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The attached Vacation data file contains vacation packages sold by a travel agent over the last 12 years. The file includes quarterly data on the
The attached Vacation data file contains vacation packages sold by a travel agent over the last 12 years. The file includes quarterly data on the number of vacation packages sold. In Excel, add a sequential observation number and then convert the quarter number to a set of dummy variables for quarter 2 to quarter 4.
- (10 pts) Run a linear regression model that uses the observation number and the quarterly dummies for quarter 2 to quarter 4 (i.e., quarter 1 is the base category) to predict vacation. What type of model is it?
- (8 pts) Based on this model, what is the quarter 1 forecast for 2020? Round your answer to a whole number.
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