Project Management-A major source of revenue in Texas is a state sales tax
A major source of revenue in Texas is a state sales tax on certain types of goods and services. Data are compiled and the state comptroller uses them to project future revenues for the state budget. One par- ticular category of goods is classified as Retail Trade. Four years of quarterly data (in $millions) for one particular area of southeast Texas follow:Quarter 1st 2nd 3rd 4thYEAR 1 218 247 243 292YEAR 2 225 254 255 299YEAR 3 234 265 264 327YEAR 4 250 283 289 356Compute seasonal indices for each quarter based on a CMA.Deseasonalize the data and develop a trend line on the deseasonalized data.Use the trend line to forecast the sales for each quarter of year 5.Use the seasonal indices to adjust the forecasts found in part (c) to obtain the final forecasts.
