Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
14th Edition
ISBN: 9780137400119
Author: MARK BERENSON, David Levine
Publisher: PEARSON+
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Question
Chapter 16, Problem 47PS
a.
To determine
Create a time series plot.
b.
To determine
Describe the monthly pattern in the data.
c.
To determine
Determine whether the call volume is increasing or decreasing.
d.
To determine
Develop an exponential trend forecasting equation with monthly components.
e.
To determine
Interpret the monthly compound growth rate.
f.
To determine
Interpret the January multiplier.
g.
To determine
Predict the value of call volume for month 60.
h.
To determine
Predict the value of the call volume for month 61.
i.
To determine
Explain how time series forecasting can benefit the call center.
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Siena Ltd attempts to find the trend of its sales over the past five years. Siena is considering which model that best represent the trends of its sales. Following are the result of linear and exponential model trend analysis:
a. Calculate the MSE and MAD for the linear trend model
b. Calculate the MSE and MAD for the exponential trend model
c. Which model that performs better
Suppose admission to a movie cost $7.50 in 2005. What
was its price in 1979 dollars? Assume that all prices have
risen at the same rate as the CPI.
The price was about $ in 1979.
(Round to the nearest cent.)
Average Annual Consumer Price Index (CPI) (1982-
1984=100)
Year
CPI Year CPI
Year CPI
1976 56.9
1989 124.0
2001 177.1
1977 60.6 1990 130.7
2002
179.9
2003
184.0
1978 65.2 1991 136.2
1992
1979
72.6
140.3
2004
188.9
1980
82.4
1993 144.5
2005
90.9 1994 148.2 2006
2007
1981
1982 96.5
1983 99.6
1984 103.9
1985 107.6
1995 152.4
1996 156.9
2008
1997 160.5
2009
1998 163.0
2010
1986 109.6 1999 166.6
2011
1987
113.6 2000 172.2
2012
1988
118.3
195.3
201.6
207.3
215.3
214.5
218.1
224.9
229.6
A principal amount of $5,000 is placed in a savings account with 5% annual interest compounded quarterly.
Part A: List the total account balances for years 0 through 4.
Part B: Which type of function best models the data?
Chapter 16 Solutions
Pearson eText for Basic Business Statistics -- Instant Access (Pearson+)
Ch. 16 - If you are using exponential smoothing for...Ch. 16 - Consider a nine-year moving average used to smooth...Ch. 16 - You are using exponential smoothing on an annual...Ch. 16 - Prob. 4PSCh. 16 - Prob. 5PSCh. 16 - How have stocks performed in the past? The...Ch. 16 - Prob. 7PSCh. 16 - Prob. 8PSCh. 16 - Prob. 9PSCh. 16 - Prob. 10PS
Ch. 16 - The linear trend forecasting equation for an...Ch. 16 - There has been much publicity about bounces paid...Ch. 16 - Prob. 13PSCh. 16 - Prob. 14PSCh. 16 - Prob. 15PSCh. 16 - The data shown in the following table and stored...Ch. 16 - Prob. 17PSCh. 16 - Prob. 18PSCh. 16 - Prob. 19PSCh. 16 - Prob. 20PSCh. 16 - Prob. 21PSCh. 16 - Prob. 22PSCh. 16 - You are given an annual time series with 40...Ch. 16 - Prob. 24PSCh. 16 - Prob. 25PSCh. 16 - Prob. 26PSCh. 16 - Prob. 27PSCh. 16 - Prob. 28PSCh. 16 - Prob. 29PSCh. 16 - Using the average baseball salary from 200 through...Ch. 16 - Using the yearly amount of solar power generated...Ch. 16 - The following residuals are from a linear trend...Ch. 16 - Prob. 33PSCh. 16 - Prob. 34PSCh. 16 - Prob. 35PSCh. 16 - Prob. 36PSCh. 16 - Prob. 37PSCh. 16 - Prob. 38PSCh. 16 - Prob. 39PSCh. 16 - Prob. 40PSCh. 16 - In forecasting daily time-series data, how many...Ch. 16 - In forecasting a quarterly time series over the...Ch. 16 - Prob. 43PSCh. 16 - Prob. 44PSCh. 16 - Are gasoline prices higher during the height of...Ch. 16 - Prob. 46PSCh. 16 - Prob. 47PSCh. 16 - The file Silver-Q contains the price in London for...Ch. 16 - Prob. 49PSCh. 16 - What is a time series?Ch. 16 - What are the different components of a time-series...Ch. 16 - What is the difference between moving average and...Ch. 16 - Prob. 53PSCh. 16 - How does the least-squares linear trend...Ch. 16 - How does autoregressive modelling differ from the...Ch. 16 - What are the different approaches to choosing an...Ch. 16 - What is the major difference between using SYX and...Ch. 16 - How does forecasting for monthly or quarterly data...Ch. 16 - Prob. 60PSCh. 16 - The monthly commercial and residential prices for...Ch. 16 - The data stored in McDonalds represent the gross...Ch. 16 - Teachers’ Retirement System of the City of New...Ch. 16 - Prob. 64PS
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