3. Quarterly sales of a car dealer exhibit an almost constant mean over time, but sales fluctuate depending on the quarter of the year (exhibits seasonality). Quarter Q1 - Spring Q2 - Summer Q3 - Fall Q4 - Winter Mean Year 1 32 74 53 22 45.25 Year 2 30 71 63 15 44.75 Year 3 35 83 45 19 45.5 (a) Using three years' worth of quarterly data that is provided, develop a set of seasonal factors that could be used to forecast car sales (b) Forecast car sales in each of the four quarters (Q1-Q4) of the following year (Year 4), using these seasonal factors.
3. Quarterly sales of a car dealer exhibit an almost constant mean over time, but sales fluctuate depending on the quarter of the year (exhibits seasonality). Quarter Q1 - Spring Q2 - Summer Q3 - Fall Q4 - Winter Mean Year 1 32 74 53 22 45.25 Year 2 30 71 63 15 44.75 Year 3 35 83 45 19 45.5 (a) Using three years' worth of quarterly data that is provided, develop a set of seasonal factors that could be used to forecast car sales (b) Forecast car sales in each of the four quarters (Q1-Q4) of the following year (Year 4), using these seasonal factors.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.3: Simple Regression Models
Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...
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Question
![3. Quarterly sales of a car dealer exhibit an almost constant mean over time, but sales fluctuate
depending on the quarter of the year (exhibits seasonality).
Quarter
Q1 - Spring
Q2 - Summer
Q3 - Fall
Q4 - Winter
Mean
Year 1
32
74
53
22
45.25
Year 2
30
71
63
15
44.75
Year 3
35
83
45
19
45.5
(a) Using three years' worth of quarterly data that is provided, develop a set of seasonal factors that
could be used to forecast car sales
(b) Forecast car sales in each of the four quarters (Q1-Q4) of the following year (Year 4), using these
seasonal factors.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F86c8dcbb-d46d-4c91-a740-ef32ebf33ae0%2Ff904944f-e85e-448b-88d8-d334c505b80c%2Fnldpmfc_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3. Quarterly sales of a car dealer exhibit an almost constant mean over time, but sales fluctuate
depending on the quarter of the year (exhibits seasonality).
Quarter
Q1 - Spring
Q2 - Summer
Q3 - Fall
Q4 - Winter
Mean
Year 1
32
74
53
22
45.25
Year 2
30
71
63
15
44.75
Year 3
35
83
45
19
45.5
(a) Using three years' worth of quarterly data that is provided, develop a set of seasonal factors that
could be used to forecast car sales
(b) Forecast car sales in each of the four quarters (Q1-Q4) of the following year (Year 4), using these
seasonal factors.
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