the costello Music company has been in business for five years. during that time, salesof pianos increased from 12 units in the first year to 76 units in the most recent year. Fredcostello, the firm’s owner, wants to develop a forecast of piano sales for the coming year.the historical data follow.Year 1 2 3 4 5Sales 12 28 34 50 76a. construct a time series plot. What type of pattern exists in the data?b. develop the linear trend equation for the time series. What is the average increase insales that the firm has been realizing per year?c. Forecast sales for years 6 and 7.
the costello Music company has been in business for five years. during that time, salesof pianos increased from 12 units in the first year to 76 units in the most recent year. Fredcostello, the firm’s owner, wants to develop a forecast of piano sales for the coming year.the historical data follow.Year 1 2 3 4 5Sales 12 28 34 50 76a. construct a time series plot. What type of pattern exists in the data?b. develop the linear trend equation for the time series. What is the average increase insales that the firm has been realizing per year?c. Forecast sales for years 6 and 7.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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the costello Music company has been in business for five years. during that time, sales
of pianos increased from 12 units in the first year to 76 units in the most recent year. Fred
costello, the firm’s owner, wants to develop a forecast of piano sales for the coming year.
the historical data follow.
Year 1 2 3 4 5
Sales 12 28 34 50 76
a. construct a time series plot. What type of pattern exists in the data?
b. develop the linear trend equation for the time series. What is the average increase in
sales that the firm has been realizing per year?
c. Forecast sales for years 6 and 7.
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