Although you should not expect a perfectly fitting model for any time-series data, you can consider the
Problem: Although you should not expect a perfectly fitting model for any time-series data, you can consider the first differences, second differences, and percentage differences for a given series as guides in choosing an appropriate model. For this problem, use each of the time series presented in the following table:
| Year | Coded Year | Series I | Series II | Series III |
| 2000 | 0 | 10 | 30 | 60 |
| 2001 | 1 | 15.1 | 33.1 | 67.9 |
| 2002 | 2 | 24 | 36.4 | 76.1 |
| 2003 | 3 | 36.7 | 39.9 | 84 |
| 2004 | 4 | 53.8 | 43.9 | 92.2 |
| 2005 | 5 | 74.8 | 48.2 | 100 |
| 2006 | 6 | 100 | 53.2 | 108 |
| 2007 | 7 | 129.2 | 58.2 | 115.8 |
| 2008 | 8 | 162.4 | 64.5 | 124.1 |
| 2009 | 9 | 199 | 70.7 | 132 |
- Determine the most appropriate model.
- Compute the forecasting equation.
- Forecast the value for 2010.
Price: $8.2
Solution: The downloadable solution consists of 6 pages, 220 words and 4 charts.
Deliverable: Word Document
Deliverable: Word Document
