Consider the following set of time series sales data for a growing company over the past 8
Fantastic news! We've Found the answer you've been seeking!
Question:
Consider the following set of time series sales data for a growing company over the past 8 months:
Month | Sales |
1 | 15 |
2 | 14 |
3 | 18 |
4 | 24 |
5 | 20 |
6 | 25 |
7 | 23 |
8 | 20 |
- Construct a time series plot. What type of pattern exists?
- Develop a forecast for the next month using a four-month moving average method.
- Develop a forecast for the next month using the averaging method.
- Develop a forecast for the next month using the naïve last-value method.
- Use the Excel Functions SLOPE and INTERCEPT to write the linear regression prediction equation with Months as the independent variable and sales as the dependent variable.
- Use the prediction equation to estimate the number of sales in month 9.
Related Book For
Business Statistics a decision making approach
ISBN: 978-0133021844
9th edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
Posted Date: