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

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

Period Sales Period Sales $1001 10 $686 2 1129 11 909 841 12 469 4 1044 13 566 1012 14 488 6 703 15 688 7 682 16 675 8. 712 17 303 9 646 18 381 1,

a. G raph the data.

b. Based on the graph, describe the time series pattern.

c. For this time series, why is forecasting with a trend model appropriate?

d. E valuate a trend forecasting model using simple linear regression. What is the MAD?

e. What is the predicted annual change of industry sales?

f. Predict sales for the next three periods.

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Question Posted: Dec 14, 2020 12:36 AM

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

Question:

Period Sales Period Sales $1001 10 $686 2 1129 11 909 841 12 469 4 1044 13 566 1012 14 488 6 703 15 688 7 682 16 675 8. 712 17 303 9 646 18 381 1,

Step by Step Answer:

a b The graph shows a negative time series trend in sales c A trend model ...View the full answer

Statistical Techniques In Business And Economics

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