Modern Business Statistics with Microsoft (R) Office Excel (R) (with XLSTAT Education Edition Printed Access Card)
Master STK120 with Confidence! Stressed about acing your STK120 exams and tests? We've got the ultimate study pack to boost your understanding and exam performance. Our comprehensive collection of past STK120 tutorial papers and detailed memos provides valuable insights into exam format, key c...
The given dataset represents sales at a local supermarket recorded over the past 12 months.
a. Do a time series plot to determine the pattern of the data.
Period Sales 18
January 11
16
February 13
March 9 14
April 8 12
May 16 10
June 15 8
July 8
6
August 10
September 15 4
October 8 2
November 10 0
December 12 Jan Feb March April May June July August Sepr Octr Nover Decr
b. Complete the table below:
Period sales 3-month Forecast 𝑺𝑺𝑺𝑺𝑺𝑺 5-month Forecast 𝑺𝑺𝑺𝑺𝑺𝑺
MA Error MA Error
forecast forecast
January 11
February 13
March 9
April 8 11 -3 9
May 16 10 6 36
June 15 11 4 16
July 8 13 -5 25
August 10 13 -3 9
September 15 11 4 16
October 8 11 -3 9
November 10 11 -1 1
December 12 11 1 1
c. The MSE (3-month MA forecast) is:
d. The MSE (5month MA forecast) is:
e. What can you conclude from these two MSE’s?
Questions 2
The following data shows the sales of burgers at a local burger joint between 1995 and 2001:
a. Fit a trend line to this time series [use Stat mode on your calculator]
b. Forecast the sales for 2003
c. How many years will it take for the local burger joint to reach sales of 200 or more?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller thembisilemagudulela. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.00. You're not tied to anything after your purchase.
