A textbook publishing company has compiled data on total annual sales of its business texts for thepreceding nine years:Year 1 2 3 4 5 6 7 8 9Sales (000) 40.2 44.5 48.0 52.3 55.8 57.1 62.4 69.0 73.7a. Using an appropriate model, forecast textbook sales for each of the next five years.b. Prepare a control chart for the forecast errors using the original data. Use 2s limits.c. Suppose actual sales for the next five years turn out as follows:Year 10 11 12 13 14Sales (000) 77.2 82.1 87.8 90.6 98.9Is the forecast performing adequately? Explain.
A textbook publishing company has compiled data on total annual sales of its business texts for thepreceding nine years:Year 1 2 3 4 5 6 7 8 9Sales (000) 40.2 44.5 48.0 52.3 55.8 57.1 62.4 69.0 73.7a. Using an appropriate model, forecast textbook sales for each of the next five years.b. Prepare a control chart for the forecast errors using the original data. Use 2s limits.c. Suppose actual sales for the next five years turn out as follows:Year 10 11 12 13 14Sales (000) 77.2 82.1 87.8 90.6 98.9Is the forecast performing adequately? Explain.
Elements Of Electromagnetics
7th Edition
ISBN:9780190698614
Author:Sadiku, Matthew N. O.
Publisher:Sadiku, Matthew N. O.
ChapterMA: Math Assessment
Section: Chapter Questions
Problem 1.1MA
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A textbook publishing company has compiled data on total annual sales of its business texts for the
preceding nine years:
Year 1 2 3 4 5 6 7 8 9
Sales (000) 40.2 44.5 48.0 52.3 55.8 57.1 62.4 69.0 73.7
a. Using an appropriate model, forecast textbook sales for each of the next five years.
b. Prepare a control chart for the forecast errors using the original data. Use 2s limits.
c. Suppose actual sales for the next five years turn out as follows:
Year 10 11 12 13 14
Sales (000) 77.2 82.1 87.8 90.6 98.9
Is the forecast performing adequately? Explain.
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