Mindtap Business Analytics, 1 Term (6 Months) Printed Access Card For Camm/cochran/fry/ohlmann/anderson/sweeney/williams' Essentials Of Business Analytics, 2nd
2nd Edition
ISBN: 9781305861794
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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1- Let A = {A1, A2, ...), in which A, A, = 0, when i j.
a) Is A a π-system? If not, which element(s) should be added to A to become a π-system?
b) Prove that σ(A) consists of the finite or countable unions of elements of A; i.c., A E σ(A) if and
only if there exists finite or countable sequence {n} such that A = U₁An (Hint: Let F be such
class; prove that F is a σ-filed containing A.)
c) Let p ≥ 0 be a sequence of non-negative real numbers with Σip₁ = 1. Using p₁'s, how do you
construct a probability measure on σ(A)? (Hint: use extension theorem.)
2- Construct an example for which P(lim sup A,) = 1 and P(lim inf An) = 0.
In a town with 5000 adults, a sample of 50 is selected using SRSWOR and asked their opinion of a proposed municipal project; 30 are found to favor it and 20 oppose it. If, in fact, the adults of the town were equally divided on the proposal, what would be the probability of observing what has been observed? Approximate using the Binomial distribution. Compare this with the exact probability which is 0.0418.
Chapter 8 Solutions
Mindtap Business Analytics, 1 Term (6 Months) Printed Access Card For Camm/cochran/fry/ohlmann/anderson/sweeney/williams' Essentials Of Business Analytics, 2nd
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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