The Data Shown Below Contains the Monthly Sales (In Thousands

question 5

Essay

The data shown below contains the monthly sales (in thousands of dollars) at a local department store for each of the past 24 months.
-(A) Develop a time series plot of the data.
(B) Perform a runs test and compute a few autocorrelations to determine whether this time series is random.
(C) Given your answers to (A) and (B), what type of forecast do you recommend? Explain your answer.
(D) Use your answer to (C), to obtain a forecast for the next quarter (4 months). How reliable do you think this forecast is?

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Definitions:

Organizational Behavior

The study of how individuals and groups interact within an organization, focusing on ways to improve efficiency and productivity.

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Job Satisfaction

The level of contentment employees feel towards their jobs, involving aspects like work environment, duties, and compensation.

Performance

The act of carrying out or accomplishing an action, task, or function.