EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 9780100460461
Author: Anderson
Publisher: YUZU
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Chapter 17, Problem 53SE
Refer to the Hudson Marine problem in exercise 52. Suppose the quarterly sales values for the seven years of historical data are as follows.
| Year | Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | Total Yearly Sales |
| 1 | 6 | 15 | 10 | 4 | 35 |
| 2 | 10 | 18 | 15 | 7 | 50 |
| 3 | 14 | 26 | 23 | 12 | 75 |
| 4 | 19 | 28 | 25 | 18 | 90 |
| 5 | 22 | 34 | 28 | 21 | 105 |
| 6 | 24 | 36 | 30 | 20 | 110 |
| 7 | 28 | 40 | 35 | 27 | 130 |
- a. Use the following dummy variables to develop an estimated regression equation to account for any season and linear trend effects in the data: Qtr1 = 1 if Quarter 1, 0 otherwise; Qtr2 = 1 if Quarter 2, 0 otherwise; and Qtr3 = 1 if Quarter 3, 0 otherwise.
- b. Compute the quarterly forecasts for next year.
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The cost behavior pattern of the maintenance costs must be determined. Data regarding the
machine hours and maintenance costs for the last year and the results of the regression analysis
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Maintenance Machine
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Jan.
$ 5,040
620
Feb.
3,600
420
Mar.
4,320
520
Apr.
3,380
390
Мay
5,220
650
June
3,550
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July
3,640
5,360
430
Aug.
680
Sept.
5,110
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Oct.
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Nov.
3,960
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Dec.
3,790
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Average
$ 4,319
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REGRESSION ANALYSIS
Y (Dependent) Variable: Maintenance Cost
X (Independent) Variable: Maintenance Hours
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c) What is forecasting error? Compute the MAD and MSE using the following data and comment on the accuracy of the forecasting
Period
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1
217
215
2
213
216
3
216
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4
210
214
5
213
211
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Chapter 17 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
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 - Prob. 22ECh. 17.4 - The president of a small manufacturing firm is...Ch. 17.4 - FRED (Federal Reserve Economic Data), a database...Ch. 17.4 - Automobile unit sales at B. J. Scott Motors, Inc.,...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 - Prob. 44SECh. 17 - Prob. 45SECh. 17 - The Mayfair Department Store in Davenport, Iowa,...Ch. 17 - Canton Supplies, Inc., is a service firm that...Ch. 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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