Introduction to Statistics and Data Analysis
5th Edition
ISBN: 9781305750999
Author: Peck Olson Devore
Publisher: CENGAGE C
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Question
Chapter 3.4, Problem 43E
To determine
Construct a time series plot.
Explain whether the time series plot support the given claim.
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In retail, a store manager uses time series models to understand shopping trends.
Review the scatter plot of the store’s sales from 2010 through 2021 to answer the questions. See attached as image.
Here is the data for Fiscal Year and Sales:
Fiscal Year
Sales
2010
$260,123.00
2011
$256,853.00
2012
$274,366.00
2013
$290,525.00
2014
$322,318.00
2015
$380,921.00
2016
$541,925.00
2017
$909,050.00
2018
$1,817,521.00
2019
$3,206,564.00
2020
$4,921,005.00
2021
$5,686,338.00
Time series decomposition seeks to separate the time series (Y) into 4 components: trend (T), cycle (C), seasonal (S), and irregular (I). What is the difference between these components?
The model can be additive or multiplicative. When do you use each?
Review the scatter plot of the exponential trend of the time series data. Do you observe a trend? If so, what type of trend do you observe?
What predictions might you make about the store’s annual sales over the next few years?
Please answer part B and C
Chapter 3 Solutions
Introduction to Statistics and Data Analysis
Ch. 3.1 - Each person in a nationally representative sample...Ch. 3.1 - The graphical display on the next page is similar...Ch. 3.1 - Prob. 3ECh. 3.1 - The National Confectioners Association asked 1006...Ch. 3.1 - College student attitudes about e-books were...Ch. 3.1 - Prob. 6ECh. 3.1 - Prob. 7ECh. 3.1 - Prob. 8ECh. 3.1 - Prob. 9ECh. 3.1 - The survey on student attitude toward e-books...
Ch. 3.1 - Prob. 11ECh. 3.1 - Prob. 12ECh. 3.1 - An article about college loans (New Rules Would...Ch. 3.1 - Prob. 14ECh. 3.2 - Prob. 15ECh. 3.2 - Prob. 16ECh. 3.2 - Prob. 17ECh. 3.2 - The article Economy Low, Generosity High (USA...Ch. 3.2 - Prob. 19ECh. 3.2 - A report from Texas Transportation Institute...Ch. 3.2 - The percentage of teens not in school or working...Ch. 3.3 - Prob. 22ECh. 3.3 - The accompanying data on annual maximum wind speed...Ch. 3.3 - The accompanying relative frequency table is based...Ch. 3.3 - Prob. 25ECh. 3.3 - Medicares new medical plans offer a wide range of...Ch. 3.3 - The following two relative frequency distributions...Ch. 3.3 - Prob. 28ECh. 3.3 - The report Trends in College Pricing 2012...Ch. 3.3 - An exam is given to students in an introductory...Ch. 3.3 - The accompanying frequency distribution summarizes...Ch. 3.3 - Example 3.19 used annual rainfall data for...Ch. 3.3 - Prob. 33ECh. 3.3 - Prob. 34ECh. 3.3 - Prob. 35ECh. 3.3 - Prob. 36ECh. 3.3 - Using the five class intervals 100 to 120, 120 to...Ch. 3.4 - Prob. 38ECh. 3.4 - Consumer Reports Health (consumerreports.org) gave...Ch. 3.4 - Prob. 40ECh. 3.4 - Prob. 41ECh. 3.4 - Prob. 42ECh. 3.4 - Prob. 43ECh. 3.4 - Prob. 44ECh. 3.4 - The accompanying time series plot of movie box...Ch. 3.5 - The accompanying comparative bar chart is similar...Ch. 3.5 - Prob. 47ECh. 3.5 - The figure at the top right of the next page is...Ch. 3.5 - The two graphical displays below are similar to...Ch. 3.5 - The following graphical display is similar to one...Ch. 3.5 - Explain why the following graphical display...Ch. 3 - Prob. 52CRCh. 3 - Prob. 53CRCh. 3 - Prob. 54CRCh. 3 - The Connecticut Agricultural Experiment Station...Ch. 3 - The stem-and-leaf display of Exercise 3.55 uses...Ch. 3 - Prob. 57CRCh. 3 - Prob. 58CRCh. 3 - Does the size of a transplanted organ matter? A...Ch. 3 - Prob. 60CRCh. 3 - Prob. 61CRCh. 3 - Prob. 62CRCh. 3 - The article Tobacco and Alcohol Use in G-Rated...Ch. 3 - Prob. 64CRCh. 3 - Prob. 65CRCh. 3 - Prob. 66CRCh. 3 - Prob. 67CRCh. 3 - Prob. 68CRCh. 3 - Prob. 69CRCh. 3 - Many nutritional experts have expressed concern...Ch. 3 - Americium 241 (241Am) is a radioactive material...Ch. 3 - Does eating broccoli reduce the risk of prostate...Ch. 3 - An article that appeared in USA TODAY (August 11,...Ch. 3 - Sometimes samples are composed entirely of...Ch. 3 - Prob. 4CRECh. 3 - More than half of Californias doctors say they are...Ch. 3 - Based on observing more than 400 drivers in the...Ch. 3 - An article from the Associated Press (May 14,...Ch. 3 - Prob. 8CRECh. 3 - Prob. 9CRECh. 3 - Prob. 10CRECh. 3 - The article Determination of Most Representative...Ch. 3 - The paper Lessons from Pacemaker Implantations...Ch. 3 - How does the speed of a runner vary over the...Ch. 3 - Prob. 14CRECh. 3 - One factor in the development of tennis elbow, a...Ch. 3 - An article that appeared in USA TODAY (September...
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- Use this data for the exercises that follow: In 2013, there were roughly 317 million citizens in the United States, and about 40 million were elderly (aged 65 and over).[34] 60. It is predicted that by 2030, one in five U.S. citizens will be elderly. How much greater will the chances of meeting an elderly person be at that time? What policy changes do you foresee if these statistics hold true?arrow_forwardFind the mean hourly cost when the cell phone described above is used for 240 minutes.arrow_forwardA new coronavirus recently triggered a global pandemic. It spreads from 5 cases in March to tens of thousands by May in the Philippines. Case contamination is comparable to what we call exponential spread. Create a table of values representing the covid19 confirmed cases in the Philippines during the first 15 days of March 2020. You can conduct your research online and then plot the results on a Cartesian plane. You can use paper and pencil or any graphing app that is appropriate. Questions to ponder: In order to slow down the growth, what can you do to the curve? In real-life, what must be done to flatten the curve? _________________arrow_forward
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