The yearly sales (in millions of dollars) of an automobile manufacturing company during the period 2000-2011 are given 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 millions of dollars) for the year 2012?

Question

The yearly sales (in millions of dollars) of an automobile manufacturing company during the period 2000-2011 are given 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 millions of dollars) for the year 2012?

Quizplus · Accepted Answer

The Answer of The yearly sales (in millions of dollars) of an automobile manufacturing company during the period 2000-2011 are given 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 millions of dollars) for the year 2012?

The Yearly Sales (In Millions of Dollars) of an Automobile