Consider the following time series: Quarter Year 1 Year 2 Year 3 80 74 65 69 61 51 48 50 43 68 71 82 a. Construct a time-series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern? b. Use multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtrl = 1 if quarter 1,0 else; Qtr2 = 1 if quarter 2,0 else; Qtr3 = 1 if quarter 3,0 else. c. Compute the quarterly forecasts for next year.
Consider the following time series: Quarter Year 1 Year 2 Year 3 80 74 65 69 61 51 48 50 43 68 71 82 a. Construct a time-series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern? b. Use multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtrl = 1 if quarter 1,0 else; Qtr2 = 1 if quarter 2,0 else; Qtr3 = 1 if quarter 3,0 else. c. Compute the quarterly forecasts for next year.
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
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Transcribed Image Text:Consider the following time series:
Quarter
Year 1
Year 2
Year 3
80
74
65
69
61
51
48
50
43
68
71
82
a. Construct a time-series plot. What type of pattern exists in the data? Is there an indication
of a seasonal pattern?
b. Use multiple linear regression model with dummy variables as follows to develop an
equation to account for seasonal effects in the data. Qtrl = 1 if quarter 1,0 else; Qtr2 = 1 if
quarter 2,0 else; Qtr3 = 1 if quarter 3,0 else.
c. Compute the quarterly forecasts for next year.
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