Question: Consider The Following Set Of Time Series Sales Data For A Growing Company Over The Past 8 Months:

Consider the following set of time series sales data for a growing company over the past 8 months:

Month  Sales

1           15

2           14

3           18

4           24

5           20

6           25

7           23

8           20

  1. Construct a time series plot.  What type of pattern exists?                          
  2. Develop a forecast for the next month using a four-month moving average method.
  3. Develop a forecast for the next month using the averaging method.     
  4. Develop a forecast for the next month using the naïve last-value method.         
  5. Use the Excel Functions SLOPE and INTERCEPT to write the linear regression prediction equation with Months as the independent variable and sales as the dependent variable.

Solution:

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