Statistics: Practice Problems Solutions

1. (24 points)

If needed, additional workspace is provided on the next sheet.

Doug Moodie is the president of Garden Products Limited. Over the last 5 years, his vice president of marketing has been providing the sales forecast using his special “focus” forecasting technique. The actual sales for the past ten years and the forecasts from the vice president of marketing are given below.

|Year |Sales |VP/Marketing Forecast |
|1 |170,300 |-- |
|2 |168,250 |-- |
|3 |165,700 |-- |
|4 |169,000 |-- |
|5 |168,000 |-- |
|6 |167,300 |170,000 |
|7 |175,250 |170,000 |
|8 |172,500 |180,000 |
|9 |156,700 |180,000 |
|10 |176,300 |160,000