Define Statistics and the different types of statistics, as well as the associated terms such as variables, types of data, etc. Provide at least one example.

Consider the following time series data. Quarter Year 1 Year 2 Year 3 1 4 6 7 2 2 3 6 3 3 5 6 4 5 7 8 a. Construct a time series plot. What type of pattern exists in the data? Trend Pattern Seasonal Pattern Horizontal Pattern O Trend and Seasonal Pattern Question 11 5 pts b. Create the following dummy variables: Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise. Create a variable t such that t = 1 for quarter 1 of year 1, t = 2 for quarter 2 of year 1, ..., t = 12 for quarter 4 of year 3. Use these dummy variables and t to develop an estimated regression equation to account for seasonal effects and any linear trend in the data. What is the forecast for quarter 1 of next year?

Descriptive statistics for the closing stock prices of two companies for several trading periods are shown below. Baba, Inc Maman, Inc. Mean 4.00 Mean 15.91 Standard Error 0.11 Standard Error 0.29 Median 3.92 Median 16.59 Mode 4.19 Mode 15.58 Standard Deviation 1.12 Standard Deviation 3.21 Sample Variance 1.25 Sample Variance 10.31 Kurtosis -1.15 Kurtosis 3.52 Skewness 0.08 Skewness -2.09 Range 3.95 Range 13.45 Minimum 2.03 Minimum 5.55 Maximum 5.98 Maximum 18.99 Sum 436.32 Sum 1972.61 Count 109 Count 124 Which company's stock price has a more dispersed distribution? Maman, Inc. Baba, Inc.

A company hires you to develop a linear regression forecasting model. Based on the company's historical sales information, you determine the intercept value of the model to be 1,500. You also find the slope value is -25. If after developing the model you are given a value of X = 8, which of the following is the resulting forecast error using this model if the actual sales is 1250?