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Ch. 8 Q1

Q. Cypress River Landscape Supply is a large wholesale supplier of landscaping materials in Georgia. Cypress River's sales vary seasonally; sales tend to be higher in the spring months than in other months.a. Suppose Cypress River estimates a linear trend without accounting for this seasonal variation. What effect would this omission have on the estimated sales trend?b. Alternatively, suppose there is, in fact, no seasonal pattern to sales, and the trend line is estimated using dummy variables to account for seasonality. What effect would this have on estimation?   Thank you for providing answer.

Complete the Case Problem (Ch. 15) As the newly named president and CEO of Tourism Banff, the Destination Management Organization for the world-famous iconic tourism community location in Banff National Park (BNP), and Canada’s first and most famous national park, you have been asked to formulate a tourism development and promotion policy which balances the needs of residents of the small community of 6,700 permanent residents and the over 5 million annual visitors to BNP. In formulating the requested policy, keep in mind that the town of Banff is located in a National Park, how would you balance the rights and responsibilities of: ENDNOTES a. permanent residents of the community; b. visitors living in the nearby city of Calgary; and c. visitors from the rest of Canada? How would you decide which kind of tourism activities you would both allow and encourage within the National Park?