SCENARIO 16-12 A Local Store Developed a Multiplicative Time-Series Model to Forecast

question 118

Short Answer

SCENARIO 16-12
A local store developed a multiplicative time-series model to forecast its revenues in future quarters,using quarterly data on its revenues during the 5-year period from 2009 to 2013.The following is the resulting regression equation:
log₁₀ Y^ˆ = 6.102 + 0.012 X - 0.129 Q₁ - 0.054 Q₂ + 0.098 Q₃
where
Y^ˆ is the estimated number of contracts in a quarter.
X is the coded quarterly value with X = 0 in the first quarter of 2008.
Q₁ is a dummy variable equal to 1 in the first quarter of a year and 0 otherwise.
Q₂ is a dummy variable equal to 1 in the second quarter of a year and 0 otherwise.
Q₃ is a dummy variable equal to 1 in the third quarter of a year and 0 otherwise.
Time-Series Forecasting 16-31
-Referring to Scenario 16-12,using the regression equation,what is the forecast for the revenues in the fourth quarter of 2015?

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Definitions:

Mechanical Ventilation

A method of providing respiratory support using a machine (ventilator) to push air into and pull air out of the lungs of a patient who is unable to breathe adequately on their own.

Respiratory Rate

The number of breaths a person takes per minute, an important vital sign.

Tachypnea

Abnormally fast respirations, usually more than 24 respirations per minute.

Patent Airway

A clear and unobstructed passageway for air to move in and out of the lungs.