The following data report total, monthly, U.S. grocery store sales in millions of dollars from January 2020

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The following data report total, monthly, U.S. grocery store sales in millions of dollars from January 2020 to December 2021. (On the site https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for many retail sectors of the economy.)


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a. Graph the data.b. Based on the graph, describe the time series pattern.c. For this time series, why is forecasting with a seasonally adjusted trend model appropriate?d. Evaluate a seasonally adjusted trend forecasting model. What are the MAD and MAPE?e. What are the monthly indexes?f. Forecast sales for January, February, March, and April of 2022.

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Statistical Techniques In Business And Economics

ISBN: 9781265779696

19th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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