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Used car dealerships generally have sales quotas that they strive to hit each month, quarter, and calendar year. Consequently, buying a used car toward the
Used car dealerships generally have sales quotas that they strive to hit each month, quarter, and calendar year. Consequently, buying a used car toward the end of those periods presents a great opportunity to get a good deal on the car. The accompanying file includes monthly sales data for used cars Cars from
Estimate the linear regression models using seasonal dummy variables with and without the trend term. Which is the preferred model?
based on the value of
Use the preferred model to forecast used car sales in the first two months of
Note: Round coefficient estimates to at least decimal places and final answers to decimal places.
Forecast
Month
Month
Date Cars
January
February
March
April
May
June
July
August
September
October
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December
January
February
March
April
May
June
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January
February
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December
January
February
March
April
May
June
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August
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October
November
December
January
February
March
April
May
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October
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January
February
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