The Daily Sales Figures Below Have Been Recorded in a Medium-Sized

question 77

Essay

The daily sales figures below have been recorded in a medium-sized insurance company. $$\begin{array}{l}\text { Week }\\\begin{array} { | l | c c c c | } \hline \text { Day } & 1 & 2 & 3 & 4 \\\hline \text { Monday } & 38 & 46 & 35 & 59 \\\text { Tuesday } & 40 & 36 & 52 & 53 \\\text { Wednesday } & 17 & 32 & 25 & 28 \\\text { Thursday } & 20 & 17 & 28 & 33 \\\text { Friday } & 26 & 20 & 32 & 20 \\\hline\end{array}\end{array}$$
a. Compute the three-day and five-day moving averages.
b. Plot the series and the moving averages on the same graph.
c. Does there appear to be a seasonal (weekly) pattern?

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Definitions:

Annual Interest Rate

The percentage increase in money that borrowers pay lenders over a year, based on the original amount of the loan.

U.S. Income Tax System

The progressive tax system in the United States where taxes are based on income levels and include deductions and credits, resulting in varying rates.

Indexed for Inflation

A mechanism to adjust income payments or prices by taking into account the rate of inflation to preserve purchasing power.

Price Level

An index that measures the average of the prices of goods and services in an economy, indicating the cost of living or inflation.