For the past two years, a department store has carried a new type of electronic calculator. Sales of this calculator have generally been increasing over these two years. They attempt to ensure that their stores will have enough calculators to meet practically all of the demand. The data is provided in the following table. Month January February March April May June July August September October November December Year 1 197 211 203 247 239 269 308 262 258 256 261 288 Year 2 296 276 305 308 356 393 363 386 443 308 358 384 By using Excel or some other statistical package: (a) Find the initial values lo and bo, to fit a straight line to the first half of the data. (b) Set up a spreadsheet to perform Holt's trend corrected exponential smoothing. (c) Find the values of a and y that minimize the SSE (mention which software did you use) (d) Find point forecasts and 95% prediction intervals for January, February, and March of year 3. (e) Right a short report and present your findings with some interpretations. (f) Submit your spreadsheets along with the report.
For the past two years, a department store has carried a new type of electronic calculator. Sales of this calculator have generally been increasing over these two years. They attempt to ensure that their stores will have enough calculators to meet practically all of the demand. The data is provided in the following table. Month January February March April May June July August September October November December Year 1 197 211 203 247 239 269 308 262 258 256 261 288 Year 2 296 276 305 308 356 393 363 386 443 308 358 384 By using Excel or some other statistical package: (a) Find the initial values lo and bo, to fit a straight line to the first half of the data. (b) Set up a spreadsheet to perform Holt's trend corrected exponential smoothing. (c) Find the values of a and y that minimize the SSE (mention which software did you use) (d) Find point forecasts and 95% prediction intervals for January, February, and March of year 3. (e) Right a short report and present your findings with some interpretations. (f) Submit your spreadsheets along with the report.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.2: Representing Data
Problem 22PFA
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Transcribed Image Text:For the past two years, a department store has carried a new type of electronic calculator. Sales
of this calculator have generally been increasing over these two years. They attempt to ensure
that their stores will have enough calculators to meet practically all of the demand. The data is
provided in the following table.
Month
January
February
March
April
May
June
July
August
September
October
November
December
Year 1
197
211
203
247
239
269
308
262
258
256
261
288
Year 2
296
276
305
308
356
393
363
386
443
308
358
384
By using Excel or some other statistical package:
(a) Find the initial values l and bo, to fit a straight line to the first half of the data.
(b) Set up a spreadsheet to perform Holt's trend corrected exponential smoothing.
(c) Find the values of a and y that minimize the SSE (mention which software did you use)
(d) Find point forecasts and 95% prediction intervals for January, February, and March of
year 3.
(e) Right a short report and present your findings with some interpretations.
(f) Submit your spreadsheets along with the report.
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VIEWStep 2: Determine the initial values l0 and b0 to fit a straight line to the first half of the data.
VIEWStep 3: Perform Holt's trend corrected exponential smoothing.
VIEWStep 4: Determine the values of alpha and gamma that minimize the SSE.
VIEWStep 5: Determine point forecasts and 95% prediction intervals for January, February, and March of year 3.
VIEWStep 6: Provide the short note and interpretation for the findings.
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