Question 1 Regression Model has been generated through Excel regression function under data analysis. The independent variable is time and overtime hours is the dependent variable. Regression output Scatter plot 1
(a)Regression line equation y=23.20+(0.67)×tOvertimehours=23.20+(0.67)∗Timeb) The computation of the seasonal indexes on the basis of the above regression line consists of different steps outlined below (Hillier, 2016).Step 1: The predicted value of overtime hours or y needs to be estimated using the regression equation obtained above for all values of independent variable i.e. time.Step 2: The ratio of actual value of overtime hours and predicted value of the same needs to be estimated for each of the quarters. Step 3: The quarterly average is ascertained and adjustment is made based on which seasonal indexes are derived.c) IntroductionA number of business tend to be seasonal in nature i.e. the underlying financial performance isdependent on the particular seasons. As a result, the various aspects related to the business would2
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