Statistical Techniques in Business and Economics
Statistical Techniques in Business and Economics
16th Edition
ISBN: 9780077639723
Author: Lind
Publisher: Mcgraw-Hill Course Content Delivery
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Chapter 18, Problem 1SR
To determine

Obtain the three-year moving average.

Draw a graph for both original data and the moving average.

Expert Solution & Answer
Check Mark

Answer to Problem 1SR

The three-year moving averages are 4, 5, 4, and 6.

The plot for original data and the moving average is shown below:

Statistical Techniques in Business and Economics, Chapter 18, Problem 1SR

Explanation of Solution

Moving average:

It is used to smooth the fluctuations in time series data in order to see its trend.

The three-year moving averages for sales are obtained below:

YearNumber Produced3-year moving average
20082
200962+6+43=4
201046+4+53=5
201154+5+33=4
201235+3+103=6
201310

Step-by-step procedure to draw the scatter plot for data values and 3-year moving average values using the Excel:

  • Enter the data for year, number produced, and 3-year moving averages in an Excel sheet.
  • Select the columns of “Number Produced” and “3-year moving average”.
  • Go to Insert menu.
  • Select Line chart.

Thus, the plot for original data and the moving averages are obtained.

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Chapter 18 Solutions

Statistical Techniques in Business and Economics

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