The following data report total, monthly U.S. book-store sales in millions of dollars from January 2016 to March 2019. (Go to https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for the total U.S. bookstore sales.) Year Month 2016 2017 2018 2019 January $1,468 $1,386 $1,271 $1,144 February 727 691 709 666 March 719 707 734 685 April 709 729 710 May 778 781 787 June 713 704 727 July 687 669 701 August 1,524 1,374 1,364 September 1,064 997 986 October 715 689 741 November 742 703 768 December 1,256 1,157 1,259 c. Which forecasting model is appropriate based on the data for the total U.S. bookstore sales? Appropriate model____________ d. Evaluate a seasonally adjusted trend forecasting model. What is the MAD? (Round your answers to 4 decimal places.) e. What is the average monthly trend in book-store sales? (Negative amounts should be indicated by a minus sign. Round your answer to 4 decimal places.) Average monthly trend in book-store sales____________ million dollars per month
The following data report total, monthly U.S. book-store sales in millions of dollars from January 2016 to March 2019. (Go to https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for the total U.S. bookstore sales.)
Year
Month 2016 2017 2018 2019
January $1,468 $1,386 $1,271 $1,144
February 727 691 709 666
March 719 707 734 685
April 709 729 710
May 778 781 787
June 713 704 727
July 687 669 701
August 1,524 1,374 1,364
September 1,064 997 986
October 715 689 741
November 742 703 768
December 1,256 1,157 1,259
c. Which forecasting model is appropriate based on the data for the total U.S. bookstore sales?
Appropriate model____________
d. Evaluate a seasonally adjusted trend forecasting model. What is the MAD? (Round your answers to 4
decimal places.)
e. What is the average monthly trend in book-store sales? (Negative amounts should be indicated by a minus sign. Round your answer to 4 decimal places.)
Average monthly trend in book-store sales____________ million dollars per month
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