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The following table presents monthly seasonal indexes for the cost of a bushel of grapefruits in...

  1. The following table presents monthly seasonal indexes for the cost of a bushel of grapefruits in a certain county in Florida.

January

February

March

April

May

June

0.90

0.87

0.95

0.93

1.00

1.04

July

August

September

October

November

December

1.05

1.10

1.12

1.02

1.03

0.99

  1. Interpret the seasonal index for September. (2 marks)
  2. From the original historical data (1999 – 2003) a trend line of TRt = $5.50 + $0.23t, where t = 1 to 60, was calculated. Assuming a multiplicative seasonal model forecast the cost of a bushel of grapefruits for each of the first six months of 2004.   (6 marks)
math   Statistics-And-Probability   
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Answer #1

(a) The seasonal index of 1.12 (or 112%) would indicate that that season had 12% more than the seasonal average.

(b)

Forecast
19.53
19.76
19.99
20.22
20.45
20.68
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