Consider the following set of time series sales data for a growing company over the past 8 months: Please be sure to work this problem in Excel and make cells with formulas editable.
|
Month |
Sales |
|
1 |
15 |
|
2 |
13 |
|
3 |
18 |
|
4 |
22 |
|
5 |
20 |
|
6 |
23 |
|
7 |
22 |
|
8 |
21 |
- Construct a time series plot. What type of pattern exists?
- Develop a forecast for the next month using the averaging method.
- Develop a forecast for the next month using the naïve last-value method.
- Develop a forecast for the next month using a four-month moving average method.
- Use the Excel Functions SLOPE and INTERCEPT to write the linear regression prediction equation with Months as the independent variable and sales as the dependent variable.
- Use the prediction equation to estimate the number of sales in month 9.
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