Mathematics, 05.05.2020 00:02 TheOneandOnly003
Use the Agricultural Time series database on “Excel Databases. xls”. Use the variable Broccoli over the first three years of the study (Months 1 – 36 only). Assume Month 1 = January. Develop an estimated regression equation that can be used to account for any seasonal and linear trend effects. Use dummy variables for the monthly seasonal effects in the data. Let Jan = 1 if January, 0 otherwise. Feb = 1 if February, 0 otherwise. Etc. This means you will have 11 dummy variables, when all dummy variables are 0, the observation corresponds to December. Look at the actual value for January of the next year (month 37). What is the difference between the observed amount of broccoli and the forecasted amount you found in the previous question? Round your answer to a whole number.
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