The accompanying data file contains 57 months of tax revenue from medical and retail marijuana tax and

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The accompanying data file contains 57 months of tax revenue from medical and retail marijuana tax and fee collections. For cross-validation, let the training and the validation sets comprise the first 45 months and the last 12 months, respectively. 

a. Use the training set to estimate the linear, the quadratic, and the cubic trend models and compute the resulting MSE, MAD, and MAPE for the validation set. 

b. Determine the preferred model and reestimate it with the entire data set to forecast tax revenue for the 58th month.

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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