2. 10.00 points Ten years of monthly data of a seasonally adjusted series are us

Question

2. 10.00 points Ten years of monthly data of a seasonally adjusted series are used to estimate a linear trend model as , 23.40+0.23t. In addition, seasonal indices for January and February are calculated as 1.01 and 0.89, respectively. Make a forecast for the first two months of next year. (Round your answers to 2 decimal places.) January 23.63 February 23.60 References eBook & Resources Worksheet Difficulty: 3 Hard Learning Objective: 18-04 Calculate and interpret seasonal indices and use them to seasonally adjust a time series.

Explanation / Answer

here deseasonal forecast for January =23.4+0.23*13=26.39

hence seasonal forecast for January =26.39*1.01=26.65

deseasonal forecast for February =23.4+0.23*14=26.62

hence seasonal forecast for January =26.62*0.89=23.69

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