Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has
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Question:
Joe's Sporting Goods wants to forecast quarterly sales figures using a quadratic trend model. The store has collected 12 quarters of data and needs your help to analyze the data. The relevant regression output is in the following table.
Regression Statistics | |
Coefficients | |
Intercept | 263.4545 |
X Variable 1 | 5.985514 |
X Variable 2 | 4.922577 |
A | B | C | D | E | F | |
1 | Time | Actual | Quadratic | |||
2 | Year | Qtr | Period | Time^2 | Sales | Trend |
3 | 1 | 1 | 1 | 1 | 284 | |
4 | 2 | 2 | 4 | 184 | 295.1 | |
5 | 3 | 3 | 9 | 365 | 325.7 | |
6 | 4 | 4 | 16 | 492 | 366.2 | |
7 | 2 | 1 | 5 | 25 | 485 | 416.4 |
8 | 2 | 6 | 36 | 277 | 476.6 | |
9 | 3 | 7 | 49 | 606 | 546.6 | |
10 | 4 | 8 | 64 | 722 | 626.4 | |
11 | 3 | 1 | 9 | 81 | 763 | 716.1 |
12 | 2 | 10 | 100 | 593 | 815.6 | |
13 | 3 | 11 | 121 | 912 | 924.9 | |
14 | 4 | 12 | 144 | 1145 | 1044.1 |
How is a quadratic term added to the problem if we want to develop a quadratic trend model?
Related Book For
Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science
ISBN: 978-0324656633
5th edition
Authors: Cliff T. Ragsdale
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