Assignment 7;Review chapter 16.5 (pp. 216-222) and answer the following questions.;The quarterly sales data (number of book sold) for Christian book over the past three years in California;follow: (You can use Excel to compute the equation);Quarter;1;2;3;4;Year1;1690;940;2625;2500;Year2;1800;900;2900;2360;Year3;1850;1100;2930;2615;1. Construct a time series plot. What type of pattern exists in the data?;2. Use the following dummy variables to develop an estimated regression equation to account for;any seasonal effects in the data: Quarter1=1 if the sales data point is in Quarter 1, otherwise;Quarter 1=0, Quarter 2=1 if the sales data point is in Quarter 2, otherwise, Quarter 2=0, Quarter;3=1 if the sales data point is in Quarter 3, otherwise Quarter 3=0.;3. Compute the quarterly forecasts for next year.;4. Let t=1 to refer to the observation in quarter 1 of year 1, t=2 to refer to the observation in quarter;2 of year 1,,,,,and t=12 to refer to the observation in quarter 4 of year 3. Using the dummy;variables defined in part (b) and t, develop an estimated regression equation to account for;seasonable effects and any linear trend in the time series. Based upon the seasonal effects in the;data and linear trend, compute the quarterly forecasts for next year.;5. This is an open-ended essay question. Based on the result in 4, what factors might lead to the;highest Christian book sales in quarter 3? You may quote bible verses in 2 Corinthians 9:10 or;Colossians 1:10.
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