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 1 $615 10 $1115 676 11 1231 761 12 1259 4 710 13 1495 784 14 1229 801 15 1652 7 852 16 1337 8 698 17 1673 9. 1193 18 1613

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

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18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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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 1 $615 10 $1115 676 11 1231 761 12 1259 4 710 13 1495 784 14 1229 801 15 1652 7 852 16 1337 8 698 17 1673 9. 1193 18 1613

Step by Step Answer:

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

Statistical Techniques In Business And Economics

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