Pls answer b and c Consider the following time series.QuarterYear 1Year 2Year 370676148405035759524778071(a) Construct a time series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern?O The time series plot shows a horizontal pattern with no seasonal pattern present.O The time series plot shows a trend pattern, but there is also a seasonal pattern in the data.O The time series plot shows a trend pattern with no seasonal pattern present.O The time series plot shows a horizontal pattern, but there is also a seasonal pattern in the data.(b) Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data.x, = 1 if quarter 1, 0 otherwise; x, = 1 if quarter 2, 0 otherwise; x, = 1 if quarter 3, 0 otherwise.(c) Compute the quarterly forecasts for the next year.quarter 1 forecastquarter 2 forecastquarter 3 forecastquarter 4 forecast

As requested, I have solved the (b) and (c) part. Kindly refer to Step 2 and 3 for the solution.

Answered: Consider the following time series.…

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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