Statistical Techniques in Business and Economics
Quiz 18: Time Series and Forecasting
A typical seasonal index of 103.7 for January indicates that sales for January are below the annual average.
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Knowing the seasonal pattern in the form of indexes allows the retailer to deseasonalize sales. This is accomplished by dividing the actual sales for a month by the seasonal index for that month.
Autocorrelation is measured by the trend component of a time series.
The Durbin-Watson statistic is used to test for correlated residuals.
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