Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following table gives monthly data for four years in million tons of consumption of ice cream in a country. Plot the series and comment

The following table gives monthly data for four years in million tons of consumption of ice cream in a country. Plot the series and comment on the visible seasonality and trend. Estimate the centered moving averages for this monthly series. Plot CMA and comment. Next, estimate the S,I component which only includes seasonal and irregular movements of the series. Then find the seasonal indexes for the twelve months removing the irregular component. Find the de-seasonalized levels for the series. Plot De-seasonalized Y and comment. Then estimate the trend values for the four sample years and the 12 months of the year 2021 using linear regression. Finally, make the forecast for the 12 months of 2021 using the Ratio-to-Moving Average method to capture the Trend and Seasonal patterns, using Excel. Plot the forecasted values for the 60 periods including 12 months of the year 2021. Plot the errors for in-sample periods and calculate RMSE. Comment on the error plot with respect to the existence of pattern or lack of visible pattern.
Month/Year 2017201820192020
Jan 100115135155
Feb 105118140160
Mar 110120145165
Apr 115132150175
May 125145160190
Jun 135160170205
Jul 140170180215
Aug 135160175205
Sep 130155170200
Oct 125150160190
Nov 115140150170
Dec 110130145165

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Social Media Measurement And Management

Authors: Jeremy Harris Lipschultz

1st Edition

0815363923, 978-0815363927

More Books

Students also viewed these General Management questions