The following data report total, monthly, U.S. grocery store sales in millions of dollars from January 2020

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The following data report total, monthly, U.S. grocery store sales in millions of dollars from January 2020 to December 2021. (On the site https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for many retail sectors of the economy.)

a. Graph the data.b. Based on the graph, describe the time series pattern.c. For this time series, why is forecasting with a seasonally adjusted trend model appropriate?d. Evaluate a seasonally adjusted trend forecasting model. What are the MAD and MAPE?e. What are the monthly indexes?f. Forecast sales for January, February, March, and April of 2022.

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a b The monthly time series shows two patterns positive trend and seasonality The seasonality i...View the full answer

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Related Book For answer-question

Statistical Techniques In Business And Economics

ISBN: 9781265779696

19th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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Question Posted: May 29, 2023 08:23 AM

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The following data report total, monthly, U.S. grocery store sales in millions of dollars from January 2020

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a b The monthly time series shows two patterns positive trend and seasonality The seasonality i...View the full answer

Statistical Techniques In Business And Economics

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