STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 18, Problem 35CE
a.
To determine
To graph: The provided data set:
b.
To determine
To describe: The pattern of the time series.
c.
To determine
To explain: The reason for the appropriateness of using seasonally adjusted trend model.
d.
To determine
To evaluate: The seasonally adjusted trend forecasting model. Also, find the MAD.
e.
To determine
To find: The average monthly trend in book store sales.
f.
To determine
To find: The monthly indexes. Also, find the month in which the sales of books are the highest and the lowest.
g.
To determine
To find: The sales for next 9 months.
h.
To determine
To explain: If the made forecasts are good or not.
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The following data report total, monthly U.S. book-store sales in millions of dollars from January 2016 to March 2019. (Go to https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for the total U.S. bookstore sales.)YearMonth 2016 2017 2018 2019January $1,468 $1,386 $1,271 $1,144February 727 691 709 666March 719 707 734 685April 709 729 710May 778 781 787June 713 704 727July 687 669 701August 1,524 1,374 1,364September 1,064 997 986October 715 689 741November 742 703 768December 1,256 1,157 1,259
g. Predict book sales for the next 9 months. (Round your answers to 4 decimal places.)Year Month Forecast…
The following data report total, monthly U.S. book-store sales in millions of dollars from January 2016 to March 2019. (Go to https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” then select “Time Series/Trend Charts” to find the data for the total U.S. bookstore sales.)YearMonth 2016 2017 2018 2019January $1,468 $1,386 $1,271 $1,144February 727 691 709 666March 719 707 734 685April 709 729 710May 778 781 787June 713 704 727July 687 669 701August 1,524 1,374 1,364September 1,064 997 986October 715 689 741November 742 703 768December 1,256 1,157 1,259 c. Which forecasting model is appropriate based on the data for the total U.S. bookstore sales?Appropriate model____________d. Evaluate a seasonally adjusted trend…
Use a graphing calculator to make a scatter plot of the amounts Leah willaccumulate for years 1 through 5.
Chapter 18 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 18 - Prob. 1ECh. 18 - Prob. 2ECh. 18 - Prob. 3ECh. 18 - Prob. 4ECh. 18 - Prob. 1SRCh. 18 - Prob. 5ECh. 18 - Prob. 6ECh. 18 - Prob. 7ECh. 18 - Prob. 8ECh. 18 - Prob. 2SR
Ch. 18 - Prob. 9ECh. 18 - Prob. 10ECh. 18 - Prob. 11ECh. 18 - Prob. 12ECh. 18 - Prob. 3SRCh. 18 - Prob. 13ECh. 18 - Prob. 14ECh. 18 - Prob. 15ECh. 18 - Prob. 16ECh. 18 - Prob. 17ECh. 18 - Prob. 18ECh. 18 - Prob. 4SRCh. 18 - Prob. 19ECh. 18 - Prob. 20ECh. 18 - Prob. 21ECh. 18 - Prob. 22ECh. 18 - Prob. 23CECh. 18 - Prob. 24CECh. 18 - Prob. 25CECh. 18 - Prob. 26CECh. 18 - Prob. 27CECh. 18 - Prob. 28CECh. 18 - Prob. 29CECh. 18 - Prob. 30CECh. 18 - Prob. 31CECh. 18 - Prob. 32CECh. 18 - Prob. 33CECh. 18 - Prob. 34CECh. 18 - Prob. 35CECh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 1.1PTCh. 18 - Prob. 1.2PTCh. 18 - Prob. 1.3PTCh. 18 - Prob. 1.4PTCh. 18 - Prob. 1.5PTCh. 18 - Prob. 1.6PTCh. 18 - Prob. 1.7PTCh. 18 - Prob. 1.8PTCh. 18 - Prob. 1.9PTCh. 18 - Prob. 1.10PTCh. 18 - Prob. 2.1PTCh. 18 - Prob. 2.2PTCh. 18 - Prob. 2.3PT
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