Using the time series data in the table, respond to the following items. Period Sales 1 $ 615 2 678 3 761 4 710 5 784 6 801 7 852 8 698 9 1,193 10 1,115 11 1,231 12 1,259 13 1,495 14 1,229 15 1,652 16 1,337 17 1,673 18 1,613
Using the time series data in the table, respond to the following items. Period Sales 1 $ 615 2 678 3 761 4 710 5 784 6 801 7 852 8 698 9 1,193 10 1,115 11 1,231 12 1,259 13 1,495 14 1,229 15 1,652 16 1,337 17 1,673 18 1,613
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.3: Conditional Probability; Independent Events; Bayes' Theorem
Problem 81E
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Question
Using the time series data in the table, respond to the following items.
| Period | Sales | ||
| 1 | $ | 615 | |
| 2 | 678 | ||
| 3 | 761 | ||
| 4 | 710 | ||
| 5 | 784 | ||
| 6 | 801 | ||
| 7 | 852 | ||
| 8 | 698 | ||
| 9 | 1,193 | ||
| 10 | 1,115 | ||
| 11 | 1,231 | ||
| 12 | 1,259 | ||
| 13 | 1,495 | ||
| 14 | 1,229 | ||
| 15 | 1,652 | ||
| 16 | 1,337 | ||
| 17 | 1,673 | ||
| 18 | 1,613 | ||
d-1. Compute all possible forecasts using a trend forecasting model using simple linear regression? (Round your answers to 3 decimal places.)
| Period | Sales | Predicted Sales | Absolute Error |
| 1 | 615 | ||
| 2 | 678 | ||
| 3 | 761 | ||
| 4 | 710 | ||
| 5 | 784 | ||
| 6 | 801 | ||
| 7 | 852 | ||
| 8 | 698 | ||
| 9 | 1,193 | ||
| 10 | 1,115 | ||
| 11 | 1,231 | ||
| 12 | 1,259 | ||
| 13 | 1,495 | ||
| 14 | 1,229 | ||
| 15 | 1,652 | ||
| 16 | 1,337 | ||
| 17 | 1,673 | ||
| 18 | 1,613 |
d-2. What is the MAD? (Round your answer to 3 decimal places.)
d-3. What is the trend equation based on the regression analysis? (Round your answers to 3 decimal places.)
Sales = __________ + _______________ time period
e. What is the predicted annual change of industry sales? (Round your answer to 3 decimal places.)
f. Predict sales for the next three periods. (Round your answer to 3 decimal places.)
| Predicted Sales | |
| Sales (19) | |
| Sales (20) | |
| Sales (21) |
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