FOC Sales. Techcore is a high-tech company 4 located in Fort Worth, Texas. The company produces a part called a fibre-optic connector (FOC) and wants to generate forecasts of the sales of FOCs over time. The company has weekly sales data for the past 265 weeks. The data are in the file FOC8 on the CD in the following columns: SALES, MONTH (numbers the month in which the observations were taken), FOV, COMPOSITE, INDUSTRIAL, TRANS, UTILITY, FINANCE, PROD, and HOUSE. (The SALES and FOV data have been disguised to provide confidentiality.) The variables are defined as follows:
FOV: Sales of a complementary product; sales of FOV are much easier to forecast than FOC sales
COMPOSITE: Friday close of the NYSE Composite Index
INDUSTRIAL: Friday close of the NYSE Industrial Stocks
TRANS: Friday close of the NYSE Transportation Stocks
UTILITY: Friday close of the NYSE Utility Stocks
FINANCE: Friday close of the NYSE Financials
PROD: Industrial Production-computers, communications equipment, and semiconductors, not seasonally adjusted
HOUSE: Monthly housing permits in thousands, seasonally adjusted rates
You have been hired as a consultant to Techcore to help build the forecasting model. Create a two-part report for Techcore that includes an executive summary with the essential nontechnical results of your study and a technical report that contains the details of your model building process.
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