Question: A statistical program is recommended. The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarter Year
A statistical program is recommended.
The quarterly sales data (number of copies sold) for a college textbook over the past three years follow.
| Quarter | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| 1 | 1,690 | 1,800 | 1,860 |
| 2 | 950 | 910 | 1,110 |
| 3 | 2,625 | 2,910 | 2,940 |
| 4 | 2,510 | 2,370 | 2,615 |
b) Please pay attention to the complete questions b and d and provide answers accordingly rounded to nearest integer
Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. (Round your numerical values to the nearest integer.)
Qrt1 = 1 if quarter 1, 0 otherwise; Qrt2 = 1 if quarter 2, 0 otherwise; Qrt3 = 1 if quarter 3, 0 otherwise
t = [ ]
(d)
Let t = 1 refer to the observation in Quarter 1 of Year 1; let t = 2 refer to the observation in Quarter 2 of Year 1;
and t = 12 to refer to the observation in Quarter 4 of Year 3. Using the dummy variables defined in part (b) and also using t, develop an equation to account for seasonal effects and any linear trend in the time series. (Round your numerical values to the nearest integer.)
t = [ ]
Step by Step Solution
There are 3 Steps involved in it
The regression equation that accounts for seasonal effects and ... View full answer
Get step-by-step solutions from verified subject matter experts
