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The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00 (d) Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for Quarter 1 in Year 1, t = 2 for Quarter 2 in Year 1,... t = 12 for Quarter 4 in Year 3. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) Value = 3.417 + 0.219 Qtr 1 + -2.188 Qtr 2 + -1.594 Qtr 3 + 0.406 t (e) Compute the quarterly forecasts for next year based on the model you developed in part (d). Do not round your interim computations and round your final answer to three decimal places. Quarter 1 forecast Quarter 2 forecast Quarter 3 forecast Quarter 4 forecast (f) Is the model you developed in part (b) or the model you developed in part (d) more effective? If required, round your intermediate calculations and final answer to three decimal places. MSE Model developed in part (b) Model developed in part (d) 1.889 0.128 Model developed in part (d) Justify your answer. The input in the box below will not be graded, but may be reviewed and considered by your instructor. blank Hide Feedback

The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00 (d) Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for Quarter 1 in Year 1, t = 2 for Quarter 2 in Year 1,... t = 12 for Quarter 4 in Year 3. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) Value = 3.417 + 0.219 Qtr 1 + -2.188 Qtr 2 + -1.594 Qtr 3 + 0.406 t (e) Compute the quarterly forecasts for next year based on the model you developed in part (d). Do not round your interim computations and round your final answer to three decimal places. Quarter 1 forecast Quarter 2 forecast Quarter 3 forecast Quarter 4 forecast (f) Is the model you developed in part (b) or the model you developed in part (d) more effective? If required, round your intermediate calculations and final answer to three decimal places. MSE Model developed in part (b) Model developed in part (d) 1.889 0.128 Model developed in part (d) Justify your answer. The input in the box below will not be graded, but may be reviewed and considered by your instructor. blank Hide Feedback

Np Ms Office 365/Excel 2016 I Ntermed
Np Ms Office 365/Excel 2016 I Ntermed
1st Edition
ISBN:9781337508841
Author:Carey
Publisher:Carey
Chapter5: Working With Excel Tables, Pivottables, And Pivotcharts
Section5.3: Pivottable And Pivotchart
Problem 6QC
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The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00
Transcribed Image Text:The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1 20.00 5 26.60 2 24.50 6 30.00 3 28.20 7 31.00 4 27.50 8 00 36.00
(d) Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for Quarter 1 in Year 1, t = 2 for Quarter 2 in Year 1,... t = 12 for Quarter 4 in Year 3. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) Value = 3.417 + 0.219 Qtr 1 + -2.188 Qtr 2 + -1.594 Qtr 3 + 0.406 t (e) Compute the quarterly forecasts for next year based on the model you developed in part (d). Do not round your interim computations and round your final answer to three decimal places. Quarter 1 forecast Quarter 2 forecast Quarter 3 forecast Quarter 4 forecast (f) Is the model you developed in part (b) or the model you developed in part (d) more effective? If required, round your intermediate calculations and final answer to three decimal places. MSE Model developed in part (b) Model developed in part (d) 1.889 0.128 Model developed in part (d) Justify your answer. The input in the box below will not be graded, but may be reviewed and considered by your instructor. blank Hide Feedback
Transcribed Image Text:(d) Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for Quarter 1 in Year 1, t = 2 for Quarter 2 in Year 1,... t = 12 for Quarter 4 in Year 3. If required, round your answers to three decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) Value = 3.417 + 0.219 Qtr 1 + -2.188 Qtr 2 + -1.594 Qtr 3 + 0.406 t (e) Compute the quarterly forecasts for next year based on the model you developed in part (d). Do not round your interim computations and round your final answer to three decimal places. Quarter 1 forecast Quarter 2 forecast Quarter 3 forecast Quarter 4 forecast (f) Is the model you developed in part (b) or the model you developed in part (d) more effective? If required, round your intermediate calculations and final answer to three decimal places. MSE Model developed in part (b) Model developed in part (d) 1.889 0.128 Model developed in part (d) Justify your answer. The input in the box below will not be graded, but may be reviewed and considered by your instructor. blank Hide Feedback
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