Question 1187042: 11-22
Sales of industrial vacuum cleaners at Overholt Supply Co. over the past 13 months were as follows:
Sales
Sales
Month
(thousands)
Month
(thousands)
January
9
August
12
February
12
September
15
March
14
October
10
April
8
November
12
May
13
December
14
June
15
January
9
July
9
a. Using a moving average with three periods, determine the demand for vacuum cleaners for next February.
b. Using a three-period weighted moving average with weights 3, 2, and 1 (3= most recent) determine the demand for vacuum cleaners for February.
c. Evaluate and comment on the accuracy of each of these models.
11-26
Commuter ridership in Athens, Greece, during the summer months is believed to be heavily tied to the number of tourists visiting the city. During the past 12 years, the data in the table below have been obtained.
Number of Tourists
Ridership
Year
(millions)
(Hundreds of thousands)
1
11
14
2
6
9
3
10
12
4
8
14
5
18
24
6
19
26
7
20
23
8
16
19
9
18
26
10
24
43
11
19
33
12
11
16
a. First, analyze Ridership data as Time Series Data, and use trend analysis to forecast ridership in years 13, 14, and 15. Does the model fit the data well? Why or why not? (Hint: Since this is time-series data, treat time as X and Ridership as Y in your trend analysis.)
b. Now analyze the relationship between # of Tourists and Ridership. Draw the relationship between the number of tourists and ridership in a scatterplot. Is a linear model reasonable? Why or why not?
c. Develop a linear regression relationship between the number of tourists and ridership.
d. What is the expected ridership if 10 million tourists visit the city next year?
Answer by Alan3354(69443)   (Show Source):
You can put this solution on YOUR website! the data in the table below have been obtained.
Number of Tourists
Ridership
Year
(millions)
(Hundreds of thousands)
1
11
14
2
6
9
3
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That's a table?
1 2 11 14 6
Click "Show source" to see how to format.
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