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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
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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.
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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