A. Obtain the linear trend equation for the following data on new checking accounts at Fair Savings Bank and use it to predict expected new checking accounts for periods 16 through 19. (Round your intermediate calculations and final answers to 2 decimal places.)

PeriodNew AccountsPeriodNew AccountsPeriodNew Accounts
12006 23911281
22177 24412275
32118 25013288
42249 25214288
523510 26715319

Y= + t
Y16=
Y17=
Y18=
Y19=

b.
Use trend-adjusted smoothing with α = .2 and β = .1 to smooth the new account data in part a. What is the forecast for period 16? Compute the initial trend estimate (Tt) for Period 5 as follows: (Period 4 data – Period 1 data) / 3. Then compute the initial trend-adjusted forecast (TAFt) for Period 5 as follows: Period 4 data + Initial trend estimate for Period 5. Then compute all remaining values (including the Stvalue for Period 5) using the textbook formulas or Excel template. (Round the "Trend"values (Tt) to 3 decimal places and all other intermediate forecast values (TAFt and St) to 2 decimal places. Round your final answer to 2 decimal places.)

Forecast for period 16

Y = 6.82X + 199.43

Predictions

Y(16) = 308.55

Y(17) = 315.37

Y(18) = 322.19

Y(19) = 329.01

Explanation:

From the data given:

The linear trend equation obtained by fitting the data using technology is :

Y = 6.82X + 199.43

Where, the slope = 6.82

Intercept = 199.43

Making predictions :

Period 16

x = 16

Y = 6.82(16) + 199.43 = 308.55

x = 17

Y = 6.82(17) + 199.43 = 315.37

x = 18

Y = 6.82(18) + 199.43 = 322.19

x = 19

Y = 6.82(19) + 199.43 = 329.01

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