(150)4. HBK, a food industry company wants to build a forecasting model to predict the sales of its hot beverage. HBK had the last weekly sales for the past 152 weeks. Using the time series components for trend (variable called tp) and seasonal--monthly dummy variables (using Dec as a baseline) and the causal variable of average weekly temperature HBK management build the model on the following page. Note the average hot-beverage weekly sales is $91,500. a. Evaluate the model on the following page, i.e., is it a good model? If so, why, or if not, why? Consider all the appropriate tests, use a = 0.05 for t test and a = 0.05 for F test. Notice on the following page is a plot of the residuals. DO ALL APPROPRIATE TESTS--COMPLETELY!!!!
(150)4. HBK, a food industry company wants to build a forecasting model to predict the sales of its hot beverage. HBK had the last weekly sales for the past 152 weeks. Using the time series components for trend (variable called tp) and seasonal--monthly dummy variables (using Dec as a baseline) and the causal variable of average weekly temperature HBK management build the model on the following page. Note the average hot-beverage weekly sales is $91,500. a. Evaluate the model on the following page, i.e., is it a good model? If so, why, or if not, why? Consider all the appropriate tests, use a = 0.05 for t test and a = 0.05 for F test. Notice on the following page is a plot of the residuals. DO ALL APPROPRIATE TESTS--COMPLETELY!!!!
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Transcribed Image Text:(150)4. HBK, a food industry company wants to build a forecasting model to predict the sales of
its hot beverage. HBK had the last weekly sales for the past 152 weeks. Using the time
series components for trend (variable called tp) and seasonal--monthly dummy variables
(using Dec as a baseline) and the causal variable of average weekly temperature HBK
management build the model on the following page.
Note the average hot-beverage weekly sales is $91,500.
a. Evaluate the model on the following page, i.e., is it a good model? If so, why, or if
not, why? Consider all the appropriate tests, use a = 0.05 for t test and a = 0.05 for F
test. Notice on the following page is a plot of the residuals.
DO ALL APPROPRIATE TESTS--COMPLETELY!!!!
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