Please help with correct answers: step by step: last time submitted- answers were incorrect A statistical program is recommended. The quarterly sales data (number of copies sold) for a college textbook over the past three years follow. Quarter Year 1 Year 2 Year 3 1 1,690 1,800 1,850 2 940 900 1,100 3 2,625 2,900 2,930 4 2,500 2,360 2,615 a) Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. (Round your numerical values to the nearest integer.) Qrt1 = 1 if quarter 1, 0 otherwise; Qrt2 = 1 if quarter 2, 0 otherwise; Qrt3 = 1 if quarter 3, 0 otherwise t = b) Using the equation developed in part (b), compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast? quarter 2 forecast? quarter 3 forecast ? quarter 4 forecast ? c) Let t = 1 refer to the observation in Quarter 1 of Year 1; let t = 2 refer to the observation in Quarter 2 of Year 1; and t = 12 to refer to the observation in Quarter 4 of Year 3. Using the dummy variables defined in part (b) and also using t, develop an equation to account for seasonal effects and any linear trend in the time series. (Round your numerical values to the nearest integer.) t = ? d) Based upon the seasonal effects in the data and linear trend, compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.) quarter 1 forecast ? quarter2 forecast ? quarter 3 forecast? quarter 4 forecast_?

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.4: Multiple Regression Models

Problem 14P: An antique collector believes that the price received for a particular item increases with its age...

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Please help with correct answers: step by step: last time submitted- answers were incorrect

A statistical program is recommended.

The quarterly sales data (number of copies sold) for a college textbook over the past three years follow.

Quarter	Year 1	Year 2	Year 3
1	1,690	1,800	1,850
2	940	900	1,100
3	2,625	2,900	2,930
4	2,500	2,360	2,615

a) Use a regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. (Round your numerical values to the nearest integer.)

Qrt1 = 1 if quarter 1, 0 otherwise; Qrt2 = 1 if quarter 2, 0 otherwise; Qrt3 = 1 if quarter 3, 0 otherwise

_t =

b) Using the equation developed in part (b), compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.)

quarter 1 forecast____?

quarter 2 forecast____?

quarter 3 forecast ____?

quarter 4 forecast ____?

c) Let t = 1 refer to the observation in Quarter 1 of Year 1; let

t = 2 refer to the observation in Quarter 2 of Year 1; and

t = 12 to refer to the observation in Quarter 4 of Year 3. Using the dummy variables defined in part (b) and also using t, develop an equation to account for seasonal effects and any linear trend in the time series. (Round your numerical values to the nearest integer.)

_t = ?

d) Based upon the seasonal effects in the data and linear trend, compute the quarterly forecasts for year 4. (Round your answers to the nearest ten.)

quarter 1 forecast ____?

quarter2 forecast ____?

quarter 3 forecast____?

quarter 4 forecast_____?

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