Question: Consider the following time series data. Year 1 Year 2 Year 3 Quarter 1 2. 3 4 4 2 3 5 6 3 5 7

Consider the following time series data. Year 1

Consider the following time series data. Year 1 Year 2 Year 3 Quarter 1 2. 3 4 4 2 3 5 6 3 5 7 7 6 6 8 a. Choose the correct time series plot. (0) 9 8 7 6 Time Series Values 1 0 Year 1, Year 1, Year 1, Year 1, Year 2, Year 2, Year 2. Year 2, Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter 1 2 3 4 1 2 3 Time Period Year 3, Year 3, Year 3, Year 3, Quarter Quarter Quarter Quarter 1 2 3 4 (ii) 9 8 Time Series Values 1 Year 1, 0 Year 1, Year 1, Year 1, Year 2, Year 2, Year 2, Year 2, Year 3, Year 3, Year 3, Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter 1 2 3 4 1 2 3 4 1 2 3 Time Period Year 3, Quarter 4 ) (iii) 9 8 7 6 5 Time Series Values 2 1 Year 2, Year 2, Year 2, Year 3, 0 Year 1, Year 1, Year 1, Year 1, Year 2, Year 3, Year 3, Year 3, Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter 1 2 3 4 1 2 3 4 1 3 2 Time Period Quarter 4 (iv) 9 8 Time Series Values 3 2 1 0 Year 1, Year 1, Year 1, Year 1, Year 2, Year 2, Year 2, Year 2, Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter 1 2 3 4 1 2 3 4 Time Period Year 3, Year 3, Year 3, Year 3, Quarter Quarter Quarter Quarter 1 2 3 4 What type of pattern exists in the data? b. Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; Qtr3 = 1 if Quarter 3, 0 otherwise. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) Value = + Qtrl + Qtr2 + Qtr3 + t c. Compute the quarterly forecasts for next year. If required, round your answers to two decimal Quarter 1 forecast = Quarter 2 forecast = Quarter 3 forecast = Quarter 4 forecast =

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