A Time Series Is Shown in the Table Below $\quad\quad\quad\quad\quad\quad\quad\quad\text { Week }$

question 33

Essay

A time series is shown in the table below: $\quad\quad\quad\quad\quad\quad\quad\quad\text { Week }$
$\begin{array}{|l|cccc|}\hline D a y & 1 & 2 & 3 & 4 \\\hline \text { Monday } & 16 & 15 & 18 & 21 \\\text { Tuesday } & 22 & 21 & 20 & 25 \\\text { Wednesday } & 20 & 23 & 20 & 24 \\\text { Thursday } & 29 & 28 & 32 & 28 \\\text { Friday } & 35 & 31 & 29 & 36 \\\hline\end{array}$ a. Compute the five-day moving averages to remove the seasonal and random variation.
b. Calculate the seasonal (daily) indexes.
c. What do the daily indexes tell us?
d. Find the regression trend line.
e. Calculate the seasonal indexes, based on the regression trend line developed in (d).

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Definitions:

Economics

The social science that deals with the production, distribution, and consumption of goods and services, and the theory and management of economies or economic systems.

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