Homework SourseGiven the following time series when t25 forecast sales14600
Given the following time series, when t=25, forecast sales=$14600
True OR False
| t | $Sales |
| 1 | 3443 |
| 2 | 1112 |
| 3 | 3444 |
| 4 | 8754 |
| 5 | 3456 |
| 6 | 8765 |
| 7 | 4098 |
| 8 | 7654 |
Solution
Linear model fitted to above data (generated by excel) is
$sales = 655.619 t + 2140.464
Putting t=25 gives forecasted sales:
$sales = 655.619 * 25 + 2140.464 = $18,530.939
So answer : False
