1. A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.
As per home.com, "A seasonal index of 1.00 for a particular month indicates that the expected value of that month is 1/12 of the overall average. A seasonal index of 1.25 indicates that the expected value for that month is 25% greater than 1/12 of the overall average. A seasonal ...
Solution discusses the seasonal index