STATISTICS F/BUSINESS+ECONOMICS-TEXT
13th Edition
ISBN: 9781305881884
Author: Anderson
Publisher: CENGAGE L
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Textbook Question
Chapter 17, Problem 46SE
The Mayfair Department Store in Davenport, Iowa, is trying to determine the amount of sales lost while it was shut down during July and August because of damage caused by the Mississippi River flood. Sales data for January through June follow.
| Month | Sales ($1000s) |
| January | 185.72 |
| February | 167.84 |
| March | 205.11 |
| April | 210.36 |
| May | 255.57 |
| June | 261.19 |
- a. Use exponential smoothing, with α = .4, to develop a forecast for July and August. (Hint: Use the forecast for July as the actual sales in July in developing the August forecast.) Comment on the use of exponential smoothing for forecasts more than one period into the future.
- b. Use trend projection to forecast sales for July and August.
- c. Mayfair’s insurance company proposed a settlement based on lost sales of $240,000 in July and August. Is this amount fair? If not, what amount would you recommend as a counteroffer?
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Chapter 17 Solutions
STATISTICS F/BUSINESS+ECONOMICS-TEXT
Ch. 17.2 - Consider the following time series data. Week 1 2...Ch. 17.2 - Refer to the time series data in exercise 1. Using...Ch. 17.2 - Exercises 1 and 2 used different forecasting...Ch. 17.2 - Consider the following time series data. Month 1 2...Ch. 17.3 - Consider the following time series data. Week 1 2...Ch. 17.3 - Consider the following time series data. Month 1 2...Ch. 17.3 - Refer to the gasoline sales time series data in...Ch. 17.3 - Refer again to the gasoline sales time series data...Ch. 17.3 - With the gasoline time series data from Table...Ch. 17.3 - With a smoothing constant of = .2, equation...
Ch. 17.3 - For the Hawkins Company, the monthly percentages...Ch. 17.3 - Corporate triple-A bond interest rates for 12...Ch. 17.3 - The values of Alabama building contracts (in ...Ch. 17.3 - The following time series shows the sales of a...Ch. 17.3 - Ten weeks of data on the Commodity Futures Index...Ch. 17.3 - The U.S. Census Bureau tracks the median price for...Ch. 17.4 - Consider the following time series data. a....Ch. 17.4 - Prob. 18ECh. 17.4 - Consider the following time series. a. Construct a...Ch. 17.4 - Prob. 20ECh. 17.4 - Prob. 21ECh. 17.4 - The Seneca Childrens Fund (SCF) is a local charity...Ch. 17.4 - The following table shows Googles annual revenue...Ch. 17.4 - FRED (Federal Reserve Economic Data), a database...Ch. 17.4 - Quarterly revenue ( millions) for Twitter for the...Ch. 17.4 - Giovanni Food Products produces and sells frozen...Ch. 17.4 - Prob. 27ECh. 17.5 - Consider the following time series. a. Construct a...Ch. 17.5 - Consider the following time series data. a....Ch. 17.5 - The quarterly sales data (number of copies sold)...Ch. 17.5 - Air pollution control specialists in southern...Ch. 17.5 - South Shore Construction builds permanent docks...Ch. 17.5 - Prob. 33ECh. 17.5 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Consider the following time series data. a....Ch. 17.6 - Refer to exercise 35. a. Deseasonalize the time...Ch. 17.6 - The quarterly sales data (number of copies sold)...Ch. 17.6 - Three years of monthly lawn-maintenance expenses...Ch. 17.6 - Air pollution control specialists in southern...Ch. 17.6 - Electric power consumption is measured in...Ch. 17 - The weekly demand (in cases) for a particular...Ch. 17 - The following table reports the percentage of...Ch. 17 - United Dairies. Inc., supplies milk to several...Ch. 17 - The data contained in the DATAfile named CrudeCost...Ch. 17 - Annual retail store revenue for Apple from 2007 to...Ch. 17 - The Mayfair Department Store in Davenport, Iowa,...Ch. 17 - Prob. 47SECh. 17 - The Costello Music Company has been in business...Ch. 17 - Consider the Costello Music Company problem in...Ch. 17 - Refer to the Costello Music Company problem in...Ch. 17 - Refer to the Costello Music Company time series in...Ch. 17 - Hudson Marine has been an authorized dealer for CD...Ch. 17 - Refer to the Hudson Marine problem in exercise 52....Ch. 17 - Refer to the Hudson Marine problem in exercise 53....Ch. 17 - Refer to the Hudson Marine data in exercise 53. a....Ch. 17 - Forecasting Food and Beverage Sales The Vintage...Ch. 17 - Forecasting Lost Sales The Carlson Department...
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