Statistics for Business and Economics
8th Edition
ISBN: 9780132745758
Author: Thorne, Newbold Carlson/
Publisher: Pearson College Div
expand_more
expand_more
format_list_bulleted
Question
Chapter 1.6, Problem 50E
To determine
Draw the times series plot for inventory sales.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
True or False? A dataset consists of U.S. dollar exchange rates the day before yesterday against 30 other world currencies. This is a time series dataset.
Time series analysis examines ________________ over _____________.
1) different companies, different periods
2) different companies, same period
3) same company, different periods
4) same company, same period
Indicate if the following data sets represent time-series, cross section or panel data.
a- Number of cars sold in North Cyprus between the years 1955 and 1970.
b- Inflation rate of the EU members between the years 2000 and 2012.
c- Population of the cities of Turkey in 2012.
d- Industrial classification of employment according to gender
Chapter 1 Solutions
Statistics for Business and Economics
Ch. 1.2 - Prob. 1ECh. 1.2 - Prob. 2ECh. 1.2 - Prob. 3ECh. 1.2 - Prob. 4ECh. 1.2 - Prob. 5ECh. 1.2 - Prob. 6ECh. 1.2 - Prob. 7ECh. 1.2 - Prob. 8ECh. 1.3 - Prob. 9ECh. 1.3 - Prob. 10E
Ch. 1.3 - Prob. 11ECh. 1.3 - Prob. 12ECh. 1.3 - Prob. 13ECh. 1.3 - Prob. 14ECh. 1.3 - Prob. 15ECh. 1.3 - Prob. 16ECh. 1.3 - Prob. 17ECh. 1.3 - Prob. 18ECh. 1.3 - Prob. 19ECh. 1.4 - Prob. 20ECh. 1.4 - Prob. 21ECh. 1.4 - Prob. 22ECh. 1.4 - Prob. 23ECh. 1.4 - Prob. 24ECh. 1.4 - Prob. 25ECh. 1.4 - Prob. 26ECh. 1.4 - Prob. 27ECh. 1.4 - Prob. 28ECh. 1.4 - Prob. 29ECh. 1.5 - Prob. 30ECh. 1.5 - Prob. 31ECh. 1.5 - Prob. 32ECh. 1.5 - Prob. 33ECh. 1.5 - Prob. 34ECh. 1.5 - Prob. 35ECh. 1.5 - Prob. 36ECh. 1.5 - Prob. 37ECh. 1.5 - Prob. 38ECh. 1.5 - Prob. 39ECh. 1.5 - Prob. 40ECh. 1.5 - Prob. 41ECh. 1.5 - Prob. 42ECh. 1.5 - Prob. 43ECh. 1.5 - Prob. 44ECh. 1.5 - Sales revenue totals (in dollars) by day of the...Ch. 1.5 - Prob. 46ECh. 1.6 - Prob. 47ECh. 1.6 - Prob. 48ECh. 1.6 - Prob. 49ECh. 1.6 - Prob. 50ECh. 1 - Prob. 51ECh. 1 - Prob. 52ECh. 1 - Prob. 53ECh. 1 - Prob. 54ECh. 1 - Prob. 55ECh. 1 - Prob. 56ECh. 1 - Prob. 57ECh. 1 - Prob. 58ECh. 1 - Prob. 59ECh. 1 - Prob. 60ECh. 1 - Prob. 61ECh. 1 - Prob. 62ECh. 1 - Prob. 63ECh. 1 - Prob. 64ECh. 1 - Prob. 65ECh. 1 - Prob. 66ECh. 1 - Prob. 67ECh. 1 - Prob. 68ECh. 1 - Prob. 69ECh. 1 - Prob. 71ECh. 1 - Prob. 72ECh. 1 - Prob. 73ECh. 1 - Prob. 74E
Knowledge Booster
Similar questions
- Comprehensively state the criteria and process of selecting appropriate models for time series forecasting.arrow_forwardThe following table lists the number of daily visitors to the Web site of a new business during its first year. Month Number Month Number 1 2 3 4 5 6 5,400 5,372 5,265 5,250 5,289 5,350 7 8 9 10 11 12 5,600 5,520 5,280 5,400 5,448 5,500 a. Graph the data with a time-series plot using a vertical scale from 5,000 to 5,700.b. Graph the data with a time-series plot using a vertical scale from 4,000 to 7,000. c. Comment on the difference between these two time-series plots.arrow_forwardEconomic time series are maintained and published by some government agencies such as the Census Bureau and the Bureau of Labor Statistics, and they use time series decomposition. Why do you think they use time series decomposition? Explain in detail.arrow_forward
- the logistic equation y=9200/(1+8.03x^-0.121t) models the gross domestic product (GDP) of the united states from 1970 through 1992, where t is the number of years after 1970 and y is in billions of dollars. at what value of t is the growth in GDP increasing most rapidly in what year?arrow_forwardA researcher has a sample of 6 annual observations {94, 104, 102, 99, 111 and 107} for the CPI in country Z for the period 2015 to 2020, and wants to forecast CPI for the years 2021, 2022 and 2023. The researcher uses 3 different forecasting models: A, B and C. Model A is an AR(1) model with no drift and with an estimated autoregressive coefficient = 0.7. Model B is a MA(1) model with no constant and with an estimated MA coefficient = -0.4 (note the minus !). Model C is a random walk model with no drift. The error terms over the 2015-2020 period were estimated to have the values: {3, -1, 2, 4, -3, 1}. a. Compute the 2021, 2022 and 2023 forecasted values for the consumer price index based on the three models. Show the formulas and the details of your calculations, and explain all the related symbols. b. Suppose that the actual values of the CPI over the 2021, 2022 and 2023 were {108, 114, 105}. Calculate the Root mean square error of the three model forecasts over the 2021-2023…arrow_forwardSediment buildup behind a dam can adversely affect a reservoir's storage capacity. Measurements of a reservoir in 1988 showed it had a capacity of 500,000 acre-feet of water. Measurements in 2018 showed that the reservoir's capacity has been decreasing at a rate of 2,000 acre-feet per year. Find a linear model of the number of acre-feet A of water in the reservoir n years after 1988.arrow_forward
- Define Nonstationarity? Explain the two most important types of nonstationarity in economic time series data?arrow_forwardDecomposition of a time series of a souvenir shop's sales is shown in the plot below. Choose all of the following which are true for this time series Select one or more: a. The sales peak right before new year's b. There are quarterly (3-monthly) seasonal cycles in this tie series c. There is an increase trend in the time series d. This time series is not stationary e. There is no seasonality in this time seriesarrow_forwardThe rate of U.S. per capita sales of bottled water for the period 2000–2010 can be approximated by s(t) = −0.18t2 + 3t + 15 gallons per year (0 ≤ t ≤ 10), where t is the time in years since the start of 2000.† After conducting a survey of sales in your state, you estimate that consumption in gyms accounts for a fraction f(t) = 0.2 + 0.04t of all bottled water consumed in year t. Assuming that your model is correct, estimate, to the nearest gallon, the total amount of bottled water consumed per capita in gyms from the start of 2002 to the start of 2010. HINT [Rate of consumption = s(t)f(t).] _____galarrow_forward
- which sentences are correct? 1.Decomposition methods assume that the actual time series value at period t is a function of three components: trend, seasonal, and irregular. 2.Dummy variables can be used to deal with categorical independent variables in a multiple regression model. 3.If a time series exhibits a linear trend, the method of least squares may be used to determine a trend line (projection) for future forecasts. 4.Time series decomposition can be used to separate or decompose a time series into seasonal, trend, and irregular (error) components. 5.A variety of nonlinear functions can be used to develop an estimate of the trend in a time series, including quadratic trend equation and exponential trend equation. 6.Hypothesis Testing about the variances of Two Populations apply with F test Statistic. 7.Hypothesis Testing about the variances of One Populations apply with Chi test Statistic. 8.Hypothesis Testing about the variances of One Populations apply with F test Statistic.…arrow_forwardThe population censuses for your city is between 1990 to 2015 are given in the excel sheet given. Estimate the future populations for 2025, and 2050 years by using the following methods and finally compare the results by plotting a graph in excel . Arithmetic, Uniform Percentage, Logistic, Declining Growtharrow_forwardDoes the following dataset satisfy GARP?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Principles of Economics (12th Edition)EconomicsISBN:9780134078779Author:Karl E. Case, Ray C. Fair, Sharon E. OsterPublisher:PEARSON
Engineering Economy (17th Edition)EconomicsISBN:9780134870069Author:William G. Sullivan, Elin M. Wicks, C. Patrick KoellingPublisher:PEARSON
Principles of Economics (MindTap Course List)EconomicsISBN:9781305585126Author:N. Gregory MankiwPublisher:Cengage Learning
Managerial Economics: A Problem Solving ApproachEconomicsISBN:9781337106665Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike ShorPublisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...EconomicsISBN:9781259290619Author:Michael Baye, Jeff PrincePublisher:McGraw-Hill Education
Principles of Economics (12th Edition)
Economics
ISBN:9780134078779
Author:Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:9780134870069
Author:William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:9781305585126
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-...
Economics
ISBN:9781259290619
Author:Michael Baye, Jeff Prince
Publisher:McGraw-Hill Education