Consider the following time series. Quarter Year 1 Year 2 Year 3 1 70 67 61 2 50 42 52 3 59 61 54 4 79 82 73 (a) Construct a time series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern? The time series plot shows a horizontal pattern, but there is also a seasonal pattern in the data.The time series plot shows a horizontal pattern with no seasonal pattern present. The time series plot shows a trend pattern, but there is also a seasonal pattern in the data.The time series plot shows a trend pattern with no seasonal pattern present. (b) Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. x1 = 1 if quarter 1, 0 otherwise; x2 = 1 if quarter 2, 0 otherwise; x3 = 1 if quarter 3, 0 otherwise. ŷ = (c) Compute the quarterly forecasts for the next year. quarter 1 forecast quarter 2 forecast quarter 3 forecast quarter 4 forecast
Consider the following time series. Quarter Year 1 Year 2 Year 3 1 70 67 61 2 50 42 52 3 59 61 54 4 79 82 73 (a) Construct a time series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern? The time series plot shows a horizontal pattern, but there is also a seasonal pattern in the data.The time series plot shows a horizontal pattern with no seasonal pattern present. The time series plot shows a trend pattern, but there is also a seasonal pattern in the data.The time series plot shows a trend pattern with no seasonal pattern present. (b) Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. x1 = 1 if quarter 1, 0 otherwise; x2 = 1 if quarter 2, 0 otherwise; x3 = 1 if quarter 3, 0 otherwise. ŷ = (c) Compute the quarterly forecasts for the next year. quarter 1 forecast quarter 2 forecast quarter 3 forecast quarter 4 forecast
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.
Chapter7: Integration
Section7.CR: Chapter 7 Review
Problem 88CR
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Question
Consider the following time series.
| Quarter | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| 1 | 70 | 67 | 61 |
| 2 | 50 | 42 | 52 |
| 3 | 59 | 61 | 54 |
| 4 | 79 | 82 | 73 |
(a)
Construct a time series plot. What type of pattern exists in the data? Is there an indication of a seasonal pattern?
The time series plot shows a horizontal pattern, but there is also a seasonal pattern in the data.The time series plot shows a horizontal pattern with no seasonal pattern present. The time series plot shows a trend pattern, but there is also a seasonal pattern in the data.The time series plot shows a trend pattern with no seasonal pattern present.
(b)
Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data.
x1 = 1 if quarter 1, 0 otherwise; x2 = 1 if quarter 2, 0 otherwise; x3 = 1 if quarter 3, 0 otherwise.
ŷ =
(c)
Compute the quarterly forecasts for the next year.
quarter 1 forecast quarter 2 forecast quarter 3 forecast quarter 4 forecast
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