Essentials Of Business Analytics
1st Edition
ISBN: 9781285187273
Author: Camm, Jeff.
Publisher: Cengage Learning,
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Textbook Question
Chapter 5, Problem 23P
Consider the following time series data:
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data: Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2. 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise.
- c. Compute the quarterly forecasts for next year based on the model you developed in part (b).
- d. Use a multiple regression model to develop an equation to account for trend and seasonal effects in the data. Use the dummy variables you developed in part (b) to capture seasonal effects and create a variable t such that t = 1 for quarter 1 in year 1, t = 2 for quarter 2 in year 1, … t = 12 for quarter 4 in year 3.
- e. Compute the quarterly forecasts for next year based on the model you developed in part (d).
- f. Is the model you developed in part (b) or the model you developed in part (d) more effective? Justify your answer.
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Chapter 5 Solutions
Essentials Of Business Analytics
Ch. 5 - Consider the following time series data:
Using...Ch. 5 - Refer to the time series data in Problem 1. Using...Ch. 5 - Problems 1 and 2 used different forecasting...Ch. 5 - Consider the following time series data:
Compute...Ch. 5 - Consider the following time series...Ch. 5 - Consider the following time series...Ch. 5 - Prob. 8PCh. 5 - Prob. 9PCh. 5 - Prob. 10PCh. 5 - For the Hawkins Company, the monthly percentages...
Ch. 5 - Corporate triple A bond interest rates for 12...Ch. 5 - The values of Alabama building contracts (in...Ch. 5 - The following time series shows the sales of a...Ch. 5 - Prob. 15PCh. 5 - The following table reports the percentage of...Ch. 5 - Consider the following time series: a. Construct a...Ch. 5 - Consider the following time series:
Construct a...Ch. 5 - The Seneca Children’s Fund (SCF) is a local...Ch. 5 - The president of a small manufacturing firm is...Ch. 5 - Consider the following time series: a. Construct a...Ch. 5 - Consider the following time series...Ch. 5 - The quarterly sales data (number of copies sold)...Ch. 5 - Prob. 25PCh. 5 - South Shore Construction builds permanent docks...Ch. 5 - Hogs & Dawgs is an ice cream parlor on the border...Ch. 5 - Donna Nickles manages a gasoline station on the...Ch. 5 - The Vintage Restaurant, on Captiva Island near...
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