Consider the monthly champagne sales data . a. Make a time series plot. Describe
ID: 3066644 • Letter: C
Question
Consider the monthly champagne sales data .
a. Make a time series plot. Describe with a couple of sentences.
Is there a trend? Is there a seasonal pattern and which type?
As you can see I already did the plot. I just need help with the interpreting if there is a trend or seasonal pattern
Untitled·[Time Senes Plat of Sales, in Thousands of Bottles] dit Data Cakc Stat Graph Editor Tools Window Help Assistant |&D; IE t ""a4 0 @ IIJ ROE] ? t 5.0 f Fr _ ?? r Time Series Plot of Sales, in Thousands of Bottles 4 10 30 40 5060 10 20 70 80 90 Index Worksherti champagneSales.mbw Type here to searchExplanation / Answer
This is a seasonal pattern.
The difference is that in seasonal pattern the period between succesive peaks (or troughs) is constant (eg. umbrella demand will rise in rainy season, and will fall otherwise).
But in trends the distance between successive peaks is irregular (eg. 1 years of economic growth, followed by 2 years of economic recession, followed be 4 years of economic growth followed by 1 year of economic recession etc.)