Statistics for Business & Economics, Revised (MindTap Course List)
12th Edition
ISBN: 9781285846323
Author: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
Publisher: South-Western College Pub
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Textbook Question
Chapter 17.4, Problem 17E
Consider the following time series data.
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Develop the linear trend equation for this time series.
- c. What is the forecast for t = 6?
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1990
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1995
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2010
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Consider the following time series data.
Choose the correct time series plot.
(i)
(ii)
(iii)
(iv)
Plot (ii) What type of pattern exists in the data?Horizontal Pattern
Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places.
Week
Time SeriesValue
Forecast
1
18
2
13
3
16
4
11
fill in the blank 3
5
17
fill in the blank 4
6
14
fill in the blank 5
MSE: fill in the blank 6The forecast for week 7: fill in the blank 7
Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places.
Week
Time SeriesValue
Forecast
1
18
2
13
fill in the blank 8
3
16
fill in the blank 9
4
11
fill in the blank 10
5
17
fill in the blank 11
6
14
fill in the blank 12
MSE: fill in the blank 13The forecast for week 7: fill in the blank 14
Consider the following time series data.
Week
1
2
3
4
5
6
Value
18
13
16
11
17
14
Construct a time series plot. What type of pattern exist in the data?
Develop a three-week moving average for this time series. Compute MSE and forecast for week 7.
Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7.
Chapter 17 Solutions
Statistics for Business & Economics, Revised (MindTap Course List)
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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