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?

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Definitions:

Resistance

The refusal to accept or comply with something, or the attempt to prevent something by action or argument.

Compliance

The act of conforming to or following rules, standards, laws, or requests made by authority figures or governing bodies.

Adherence

The act of sticking faithfully to a commitment, rule, or instruction.

Commitment

A dedication to a cause, activity, or the fulfillment of a promise or obligation.