SOLUTION: The following time series data represent the quarterly amounts spent on advertising (in millions of dollars) by a large toy company (read across):
Quarter 1 Quarter 2 Quarter 3
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Quarter 1 Quarter 2 Quarter 3
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Question 316684: The following time series data represent the quarterly amounts spent on advertising (in millions of dollars) by a large toy company (read across):
Quarter 1 Quarter 2 Quarter 3 Quarter 4
8.2 8.4 7.2 8.3
8.4 9.8 9.6 9.5
8.3 9.3 10.9 11.1
10.0 10.0 9.3 11.8
11.5 11.8 11.4 10.8
10.7
This series of data begins in Quarter of (i.e., time period corresponds to the first quarter of ). Using regression analysis, a linear trend line of the form was fit to the data. Using this information, generate a forecast for the total yearly amount of money that will be spent on advertising in . Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! Find the yearly cost by adding quarter by quarter for each of the 5 years.
(1,32.1)
(2,37.3)
(3,39.6)
(4,41.1)
(5,45.5)
Fit this with a linear model,
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where x-Year, y-Advertising Cost in millions
You can then use this model to forecast future costs.
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