Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the time series data in the table, respond to the following items. Period Sales 1 1,005 2 1,129 3 841 4 1,044 5 1,012

Using the time series data in the table, respond to the following items.

Period Sales
1 1,005
2 1,129
3 841
4 1,044
5 1,012
6 703
7 682
8 712
9 646
10 686
11 909
12 469
13 566
14 488
15 688
16 675
17 303
18 381

d-1. Compute all possible forecasts using a trend forecasting model using simple linear regression? (Round your answers to 2 decimal places.)

Period Sales Predicted Sales Absolute Error
1 1,005
2 1,129
3 841
4 1,044
5 1,012
6 703
7 682
8 712
9 646
10 686
11 909
12 469
13 566
14 488
15 688
16 675
17 303
18 381

d-2. What is the MAD? (Round your answer to 2 decimal places.) MAD = ___ .

d-3. What is the trend equation based on the regression analysis? (Round your answers to 2 decimal places.) Sales = ___ - ___ time period.

e. What is the predicted annual change of industry sales? (Round your answer to 2 decimal places.) Predicted annual change of industry sales ___ .

f. Predict sales for the next three periods. (Round your answers to 2 decimal places.)

Predicted Sales
Sales (19)
Sales (20)
Sales (21)

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

Step: 3

blur-text-image

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

Algebra Foundations Prealgebra, Algebra & Intermediate Algebra (subscription)

Authors: Elayn Martin Gay

2nd Edition

0135257506, 9780135257500

More Books

Students also viewed these Mathematics questions

Question

What is a residual plot?

Answered: 1 week ago

Question

1. To generate a discussion on the concept of roles

Answered: 1 week ago

Question

6. What information processes operate in communication situations?

Answered: 1 week ago

Question

3. How can we use information and communication to generate trust?

Answered: 1 week ago