STATISTICS F/BUSINESS+ECONOMICS-TEXT
13th Edition
ISBN: 9781305881884
Author: Anderson
Publisher: CENGAGE L
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Textbook Question
Chapter 17.6, Problem 35E
Consider the following time series data.
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Show the four-quarter and centered moving average values for this time series.
- c. Compute seasonal indexes and adjusted seasonal indexes for the four quarters.
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The results from a survey that collected annual household income is shown in the given table. Which of the following data types best describe these values?
Click the icon to view the annual household income.
Annual Household Income
OA. Ordinal
OB. Time series
OC. Cross-sectional
OD. Nominal
Annual Household Income
Household
Income ($000)
Under $30
$30 to under $40
$40 to under $50
$50 to under $60
$60 to under $70
Over $70
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67
111
125
21
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Consider the following time series data.Quarter Year 1 Year 2 Year 31 4 6 72 2 3 63 3 5 64 5 7 8a. Construct a time series plot. What type of pattern exists in the data?b. Show the four-quarter and centered moving average values for this time series.c. Compute seasonal indexes and adjusted seasonal indexes for the four quarters.
Consider the following time series data.
Week
1
4
5
6
Value
16
15
17
13
16
13
3.
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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- Consider the following time series data: Week 3 4 5 6 2. 1.arrow_forwardFor the Texas Shipping Company, the monthly percentages of all shipments received on time over the past 12 months are 82, 86, 87, 89, 84, 85, 84, 86, 75, 95, 90, and 92. a. Construct a time series plot (you can include it in the work file question at the end, not here). Identify what type of pattern, if any, exists in the data? Compare the three-month moving average forecast with an exponential smoothing forecast for alpha= 0.25 and answer the following: b. MSE for 3-month moving average method c. MSE for exponential-smoothing method : d. Which method should be preferred? Answer "3-month MA" or "Exponential Smoothing": e. What is the forecast for next month using the preferred method?arrow_forwardDescribe the following time-series patterns: a. Horizontal Pattern b. Trend Pattern c. Seasonal Pattern d. Cyclical Patternarrow_forward
- The time series pattern that exists when the data fluctuate around a constant mean is the ______________. A. horizontal pattern. B. seasonal pattern. C. cyclical pattern. D. trend pattern.arrow_forwardPlease answer part B and Carrow_forwardthe costello Music company has been in business for five years. during that time, salesof pianos increased from 12 units in the first year to 76 units in the most recent year. Fredcostello, the firm’s owner, wants to develop a forecast of piano sales for the coming year.the historical data follow.Year 1 2 3 4 5Sales 12 28 34 50 76a. construct a time series plot. What type of pattern exists in the data?b. develop the linear trend equation for the time series. What is the average increase insales that the firm has been realizing per year?c. Forecast sales for years 6 and 7.arrow_forward
- Use the following data to create a time series graph. You may draw the graph by hand or use technology. Be sure to use a title, and label the axes of your graph. Year U.S. Birth Rate per 1000 1980 3,612 1985 3,761 1990 4,158 1995 3,900 2000 4,059 2005 4,138 2010 3,999arrow_forwardConsider the following data: Year Deaths 2000 17,050 Number of Deaths in the U.S. by Drug Overdose 2003 2004 2002 2005 14,311 13,352 17,771 14,516 2001 17,510 2006 2007 11,153 18,656 2008 16,643 Step 1 of 2: Find the two-period moving average for the year 2005. If necessary, round your answer to one decimal place.arrow_forwardConsider the following time series data: Quarter 1 2 3 4 Year1 6 Cyclical pattern 2 3 5 O Trend pattern without seasonality Year2 O Horizontal pattern O Trend with seasonal pattern 6 3 Construct a time series plot, what type of pattern exists in the data? 5 7 Year3 7 6 6 8arrow_forward
- No Religious Affiliation Trends. The following table gives the percentage of first-year college students who answered “None” when asked about their religious affiliation in selected years. Display the data as a time-series graph and write a short paragraph explaining any noticeable trends or patterns. Year Percentage claiming no religious affiliation 1985 9.4% 1990 12.3% 1995 14.0% 2000 14.9% 2005 17.4% 2010 23.0% 2015 29.5%arrow_forwardA consumer interest group is tracking the percentage of household income spent on gasoline over the past 30 years. Which graphical display would be more useful, a histogram or a time-series graph. Why? a. A histogram because the change in data over time is the most relevant issue.b. A time-series graph because the change in data over time is the most relevant issue. c. A time-series graph because the range of values for the data is the most relevant issue.6. A histogram because the range of values for the data is the most relevant issue.arrow_forwardConsider the following data: Year Deaths 2000 17,050 Number of Deaths in the U.S. by Drug Overdose 2001 2002 2003 2004 2005 2006 2007 2008 17,510 14,311 13,352 17,771 14,516 11,153 18,656 16,643 Step 2 of 2: Find the three-period moving average for the year 2005. If necessary, round your answer to one decimal place.arrow_forward
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