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Applied Statistics and Probability for Engineers | 6th Edition | ISBN: 9781118539712 | Authors: Douglas C. Montgomery, George C. Runger
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The data shown in Table 6E.13 are monthly champagne sales

Chapter 6, Problem 111SE

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QUESTION:

The data shown in Table 6E.13 are monthly champagne sales in France (1962–1969) in thousands of bottles. (a) Construct a time series plot of the data and comment on any features of the data that reveals by this plot. (b) Speculate on how you would use a graphical procedure to forecast monthly champagne sales for the year 1970.

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QUESTION:

The data shown in Table 6E.13 are monthly champagne sales in France (1962–1969) in thousands of bottles. (a) Construct a time series plot of the data and comment on any features of the data that reveals by this plot. (b) Speculate on how you would use a graphical procedure to forecast monthly champagne sales for the year 1970.

ANSWER:

Solution:

Step 1 of 3:

The data about monthly champagne sales in France from 1962-1969 is given.

  1. We have to construct and interpret a time series plot of the data.
  2. We have to find the monthly champagne sales for the year 1970 by using the plot.

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