Consider the following time series.QuarterYear 1Year 2Year 31716862249415135860534788172Construct a time series plot. What type of pattern exists in the data?Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1=1 if Quarter 1, 0 otherwise; Qtr2=1 if Quarter 2, 0 otherwise; Qtr3=1 if Quarter 3, 0 otherwise.Compute the quarterly forecast for the next year.

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Answered: Consider the following time series.…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.6: Regression And Median-fit Lines

Problem 17HP

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Consider the following time series.

Quarter	Year 1	Year 2	Year 3
1	71	68	62
2	49	41	51
3	58	60	53
4	78	81	72

Construct a time series plot. What type of pattern exists in the data?
Use a multiple linear regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1=1 if Quarter 1, 0 otherwise; Qtr2=1 if Quarter 2, 0 otherwise; Qtr3=1 if Quarter 3, 0 otherwise.
Compute the quarterly forecast for the next year.

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