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The following time series represents the number of automobiles sold by a car dealership each of the past five months. O t O (a) Construct a time series plot. Time Series Value 12 INIWIN 10 8 6 4 Y₁ 7 12 8 15 16 16 14- 12 10- 8- 6 14- 12 10 ON 4900 1 2 3 8. 6 0 4 5 1 1 2 3 4 Time Period (t) 2 3 4 Time Period (t) 5 5 6 16- 14 0 1 + 3 2 4 Time Period (t) 5 6 16- 14- 12 10 8- 1 2 3 4 Time Period (t) 5 What type of pattern exists in the data? O The time series plot shows a nonlinear trend. O The time series plot shows a horizontal pattern. O The time series plot shows a linear trend. O The time series plot shows a seasonal pattern. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. (c) What is the forecast for t = 6?

The following time series represents the number of automobiles sold by a car dealership each of the past five months. O t O (a) Construct a time series plot. Time Series Value 12 INIWIN 10 8 6 4 Y₁ 7 12 8 15 16 16 14- 12 10- 8- 6 14- 12 10 ON 4900 1 2 3 8. 6 0 4 5 1 1 2 3 4 Time Period (t) 2 3 4 Time Period (t) 5 5 6 16- 14 0 1 + 3 2 4 Time Period (t) 5 6 16- 14- 12 10 8- 1 2 3 4 Time Period (t) 5 What type of pattern exists in the data? O The time series plot shows a nonlinear trend. O The time series plot shows a horizontal pattern. O The time series plot shows a linear trend. O The time series plot shows a seasonal pattern. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. (c) What is the forecast for t = 6?

Practical Management Science
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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The following time series represents the number of automobiles sold by a car dealership each of the past five months. O t O (a) Construct a time series plot. Time Series Value 12 INIWIN 10 8 6 4 Y₁ 7 12 8 15 16 16 14- 12 10- 8- 6 14- 12 10 ON 4900 1 2 3 8. 6 0 4 5 1 1 2 3 4 Time Period (t) 2 3 4 Time Period (t) 5 5 6 16- 14 0 1 + 3 2 4 Time Period (t) 5 6 16- 14- 12 10 8- 1 2 3 4 Time Period (t) 5
Transcribed Image Text:The following time series represents the number of automobiles sold by a car dealership each of the past five months. O t O (a) Construct a time series plot. Time Series Value 12 INIWIN 10 8 6 4 Y₁ 7 12 8 15 16 16 14- 12 10- 8- 6 14- 12 10 ON 4900 1 2 3 8. 6 0 4 5 1 1 2 3 4 Time Period (t) 2 3 4 Time Period (t) 5 5 6 16- 14 0 1 + 3 2 4 Time Period (t) 5 6 16- 14- 12 10 8- 1 2 3 4 Time Period (t) 5
What type of pattern exists in the data? O The time series plot shows a nonlinear trend. O The time series plot shows a horizontal pattern. O The time series plot shows a linear trend. O The time series plot shows a seasonal pattern. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. (c) What is the forecast for t = 6?
Transcribed Image Text:What type of pattern exists in the data? O The time series plot shows a nonlinear trend. O The time series plot shows a horizontal pattern. O The time series plot shows a linear trend. O The time series plot shows a seasonal pattern. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. (c) What is the forecast for t = 6?
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