Question
In: Statistics and Probability
Consider the following time series. Quarter Year 1 Year 2 Year 3 1 70 67 61...
Consider the following time series.
| Quarter | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| 1 | 70 | 67 | 61 |
| 2 | 48 | 40 | 50 |
| 3 | 58 | 60 | 53 |
| 4 | 79 | 82 | 73 |
(b)Use the following dummy variables to develop an estimated regression 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.
=
(c)Compute the quarterly forecasts for next year.
quarter 1 forecast___
quarter 2 forecast___
quarter 3 forecast___
quarter 4 forecast___
Solutions
Expert Solution
quarter 1 forecast = 78-12X1-32X2--21X3
=78-12*(1)-32(0)-21(0)
=66
quarter 2 forecast = 78-12*(0)-32(1)-21(0) = 46
quarter 3 forecast = 78-12*(0)-32(0)-21(1) = 57
quarter 4 forecast = 78-12*(0)-32(0)-21(0) = 78
orchestra answered 2 years agoRelated Solutions
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