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Solve: Time Series and Forecasting

Question: Victor Anderson, the owner of Anderson Belts, Inc., is studying absenteeism among his employees. His workforce is small, consisting of only five employees. For the last three years he recorded the following number of employee absences, in days, for each quarter.

Quarter
________________________________________________________________________
Year I II III IV
2001 4 10 7 3
2002 5 12 9 4
2003 6 16 12 4

Determine a typical seasonal index for each of the four quarters.

Solution Preview

Data (Rearranged)
Year
Quarter 2001 2002 2003
I 4 5 6
II 10 12 16
III 7 9 12
IV 3 4 4

Step 1: Compute overall ...

Solution Summary

This solution provides a 3-step response demonstrating how to solve for a typical seasonal index. There is also an Excel spreadsheet which accompanies the solution, presenting the response in proper format. By clicking directly onto the cells of the spreadsheet, it shows which functions are needed in order to compute the corresponding values.

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