• Story Name: Predicting Appliance Sales
  • Story Topics: Economics, Consumer,
  • Datafile Name: Predicting Appliance Sales
  • Methods: Regression, Time Series,
  • Abstract:

    The file gives annual unit factory shipments of dishwashers, disposals, refrigerators, and washing machines in the United States from 1960 through 1985 together with two potential predictor series, durable goods expenditures and private residential investment. The data for each series in 1986 were as follows: Dishwashers 3915 Disposals 4253 Regrigerators 6511 Washing machines 5766 Durable goods expenditures 208.2 Residential Investment 67.2 The data provide the student with the opportunity to compare different methods for estimating 1986 appliance sales. These may include 1) projecting a trend of sales, 2) using mean first difference, 3) projecting a regression of sales on either economic indicator, and 4) projecting the regression of sales first differences on either economic indicator's first differences. Comparison of results should include a measure of expected error (residuals) and a test of independence of successive errors (residuals). The 1986 values are to be treated as known to estimate unknown values of appliance sales.

  • Images:
    Dishwasher Sales

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