Question: Use exhibit 2 to answer the following question What is the forecast for year 6 season 1? 2397 2664 2366 2476 Exhibit 2 Business at

Use exhibit 2 to answer the following question What is the forecast for year 6 season 1?

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Exhibit 2 Business at Terry's Tie Shop can be viewed as falling into three distinct seasons: (1) Christmas (November-December); (2) Father's Day (late May - mid-June); and (3) all other times. Average weekly sales (in $'s) during each of these three seasons during the past four years has been as follows: Season Year 1 Year 2 Year 3 Year 4 1 1856 1995 2241 2280 2 2012 2168 2306 2408 3 985 1072 1105 1120 Estimate beta coefficients and the intercept of the following forecasting model with trend and seasonality. Ft = b0 + b1*S1t + b2*S2t + b3*t where S1t and S2t represent data from season 1 and season 2 respectively and t represents the sequential time period.

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