Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Textbook Question
Chapter 8, Problem 24P
The quarterly sales data (number of copies sold) for a college textbook over the past three years are as follows:
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data: Qtr1 = l if quarter l, 0 otherwise; Qtr2 = l if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise.
- c. Based on the model you developed in part (b), compute the quarterly forecasts for next year.
- d. Let t = 1 to refer to the observation in quarter 1 of year 1; t = 2 to refer to the observation in quarter 2 of year 1; …; and t = 12 to refer to the observation in quarter 4 of year 3. Using the dummy variables defined in part (b) and t, develop an equation to account for seasonal effects and any linear trend in the time series.
- e. Based upon the seasonal effects in the data and linear trend, compute the quarterly forecasts for next year.
- 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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Students have asked these similar questions
am. 13.
Table 13 lists fall graduate enrollment by gender in U.S. degree-granting institutions. The figure contains a scatter plot and regression line for each data set, where x represents years since 1980 and y represents enrollment in millions.
Fall Graduate Enrollment (in millions)
Year
Male
Female
1980
0.87
0.75
1990
0.90
0.96
2000
0.94
1.21
2010
1.21
1.73
2020
1.21
1.70
A. Interpret the slope of each model.
B. Use the regression models to predict the male and female graduate enrollments in 2025.
C. Use the regression models to estimate the first year in which female graduate enrollment will exceed male graduate enrollment by at least 1 million.
Consider the data in the Excel file Nuclear Power. Use simple linear regression to forecast the data. What would be the forecasts for the next three years?
Nuclear Electric Power Production (Billion KWH)
Year
US
Canada
France
1980
251.12
35.88
63.42
1981
272.67
37.8
99.24
1982
282.77
36.17
102.6
1983
293.68
46.22
136
1984
327.63
49.26
180.5
1985
383.69
57.1
211.2
1986
414.04
67.23
239.6
1987
455.27
72.89
249.3
1988
526.97
78.18
260.3
1989
529.35
75.35
288.7
1990
576.86
69.24
298.4
1991
612.57
80.68
314.8
1992
618.78
76.55
321.5
1993
610.29
90.08
349.8
1994
640.44
102.4
342
1995
673.4
92.95
358.4
1996
674.73
88.13
377.5
1997
628.64
77.86
375.7
1998
673.7
67.74
368.6
1999
728.25
69.82
374.5
2000
753.89
69.16
394.4
2001
768.83
72.86
400
2002
780.06
71.75
414.9
2003
763.73
71.15
419
2004
788.53
85.87
425.8
2005
781.99
87.44
429
2006
787.22
93.07
427.7
Chapter 8 Solutions
Essentials of Business Analytics (MindTap Course List)
Ch. 8 - Consider the following time series data:
Using...Ch. 8 - Refer to the time series data in Problem 1. Using...Ch. 8 - Problems 1 and 2 used different forecasting...Ch. 8 - Consider the following time series data:
Compute...Ch. 8 - Consider the following time series...Ch. 8 - Consider the following time series...Ch. 8 - Refer to the gasoline sales time series data in...Ch. 8 - Prob. 8PCh. 8 - Prob. 9PCh. 8 - Prob. 10P
Ch. 8 - For the Hawkins Company, the monthly percentages...Ch. 8 - Corporate triple A bond interest rates for 12...Ch. 8 - The values of Alabama building contracts (in...Ch. 8 - The following time series shows the sales of a...Ch. 8 - Prob. 15PCh. 8 - The following table reports the percentage of...Ch. 8 - Consider the following time series: a. Construct a...Ch. 8 - Consider the following time series:
Construct a...Ch. 8 - Because of high tuition costs at state and private...Ch. 8 - The Seneca Children’s Fund (SCF) is a local...Ch. 8 - The president of a small manufacturing firm is...Ch. 8 - Consider the following time series: a. Construct a...Ch. 8 - Consider the following time series...Ch. 8 - The quarterly sales data (number of copies sold)...Ch. 8 - Prob. 25PCh. 8 - South Shore Construction builds permanent docks...Ch. 8 - Hogs & Dawgs is an ice cream parlor on the border...Ch. 8 - Donna Nickles manages a gasoline station on the...Ch. 8 - The Vintage Restaurant, on Captiva Island near...
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