Consider the following quarterly time series.
|Quarter||Year 1||Year 2||Year 3|
- Construct a time series plot. What type of pattern exists in the data?
- Use a multiple regression model with dummy variables as follows to develop an equation to account for seasonal effects in the data. Qtr1 = 1 if quarter 1, 0 otherwise; Qtr2 = 1 if quarter 2, 0 otherwise; Qtr3 = 1 if quarter 3, 0 otherwise.
- Compute the quarterly forecasts for next year based on the model developed in part (b)
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