The following time series represents the number of automobiles sold by a car dealership each of the past five months. t 1 2 3 4 5 Yt 7 12 10 13 14 (a) Construct a time series plot. What type of pattern exists in the data? The time series plot shows a linear trend.The time series plot shows a horizontal pattern. The time series plot shows a seasonal pattern.The time series plot shows a nonlinear trend. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. t = (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. t 1 2 3 4 5 Yt 7 12 10 13 14 (a) Construct a time series plot. What type of pattern exists in the data? The time series plot shows a linear trend.The time series plot shows a horizontal pattern. The time series plot shows a seasonal pattern.The time series plot shows a nonlinear trend. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. t = (c) What is the forecast for t = 6?
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.
| t | 1 | 2 | 3 | 4 | 5 |
|---|---|---|---|---|---|
|
Yt
|
7 | 12 | 10 | 13 | 14 |
(a) Construct a time series plot.
What type of pattern exists in the data?
The time series plot shows a linear trend.The time series plot shows a horizontal pattern. The time series plot shows a seasonal pattern.The time series plot shows a nonlinear trend.
(b)
Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.
t =
(c)
What is the forecast for
t = 6?
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