The Monthly Sales (In Hundreds of Dollars) of a Company

question 20

Essay

The monthly sales (in hundreds of dollars) of a company are listed below.
a. Construct a time series plot. What type of pattern exists in the data?
b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.
c. What is the sales forecast (in hundreds of dollars) for next month?

---

Definitions:

Class

In programming, a blueprint for creating objects that contains specific attributes and methods.

Relative Frequency

The proportion between how often a specific value appears and the overall count of data points observed.

Midpoint

The middle point of a line segment, exactly equidistant from both ends.

Cumulative Percent Frequency

A measure used in statistics to describe the percentage of data points that fall within a certain category or below a specified value, accumulating from the start of the data set.