typical seasonal index of the surf board
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Question 1:
I started my own company manufacturing surf boards. For the last three years I recorded the following number of surf board sales for each quarter.
Quarter
Year Winter Spring Summer Fall
2002 4 10 7 3
2003 5 12 9 4
2004 6 16 12 4
Determine a typical seasonal index for each of the four quarters.
Question 2:
The surf board business is definitely growing and in the spring of 2005 my sales totaled 15 boards for that quarter, but I have expected it because the typical seasonal index for that quarter is 1.668. The typical seasonal index for the fall quarter is .477. How many boards should I expect to sell in the fall of 2005?
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Solution Summary
The following posting shows how to calculate the typical seasonal index of the surf board.
Solution Preview
Please see attached file.
We can set up the following table.
Quarter
Year Winter Spring Summer Fall
2002 4 10 7 3
2003 5 12 9 4
2004 6 ...
Education
- BSc , Wuhan Univ. China
- MA, Shandong Univ.
Recent Feedback
- "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
- "excellent work"
- "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
- "Thank you"
- "Thank you very much for your valuable time and assistance!"
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