In 1958, the Murphy brothers established a furniture store in downtown Dallas. Over the years, they were
Question:
In 1958, the Murphy brothers established a furniture store in downtown Dallas. Over the years, they were quite successful and extended their retail coverage throughout the West and Midwest. By 1996, their chain of furniture stores had become well established in 36 states. Julie Murphy, the daughter of one of the founders, had recently joined the firm. She collected monthly sales data for 1986-1988. Data are shown in Table 3.
Use Minitab to obtain the ACF graph with 30 lags. Does the ACF graph show any seasonality?
a. no because none of the autocorrelations at seasonal legs are significant or relatively larger than others
b. no we cannot tell
c.yes because the first 5 autocorrelations are significant
d.yes because autocorrelation at 12 is significant and autocorrelation at lag 24 is relatively larger.
Expert Answer:
Answer d yes because autocorrelation at 12 is significant and autocorrelation at lag 24 is ... View the full answer
