Set of time series sales data for a growing company over the past 8 months (Solved)
management
Description
Consider the following
set of time series sales data for a growing company over the past 8 months:
|
Month |
Sales |
|
1 |
15 |
|
2 |
13 |
|
3 |
18 |
|
4 |
22 |
|
5 |
20 |
|
6 |
23 |
|
7 |
22 |
|
8 |
21 |
1.
Construct
a time series plot. What type of pattern
exists?
2.
Develop
a forecast for the next month using the averaging
method.
3.
Develop
a forecast for the next month using the naïve last-value
method.
4.
Develop
a forecast for the next month using a four-month moving average method.
5.
Use
the Excel Functions SLOPE and INTERCEPT to write the linear regression
prediction equation with Months as the independent variable and sales as the
dependent variable.
6.
Use
the prediction equation to estimate the number of sales in month 9.
