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Table of Contents
The source of your data and describe exactly what is being measured.
Data was obtained from the UK Household Final Consumption Expenditure on Transport Services from 2004Q1 to 2011Q3 and accessed from http://www.ons.gov.uk. The data was formatted (appendix) a trendline drawn and an equation from the line generated (appendix)
A description of any regular seasonality found in the data set
There has been a trend that is experienced in every year in the department. At the start of the first quarter, transport is at its lowest and rises with time. In all the years, peak starts at the end of the second quarter, which is the start of the third quarter while the lowest is always at the start of the year, the fourth quarter. The year always starts with a lowest and ends at the lowest.
The data set of household final consumption expenditures depicts various
Trends in various quarters. Quarter one always depicts a positive trend showing that the household final consumption expenditure on transport is rising with time. The same pattern is being repeated in the second quarter where it reaches the peak. At quarter three the trend goes down to a negative value indicating reducing household final consumption expenditure on transport is rising with time. This negative trend continues to quarter four to a trough.
The equation of the trend line in the context of the data and interpret the value of the average quarterly increase
The equation is Y=63.72x+6539. The average quarterly trend is positive thus the positive gradient of the trendline, 63.72. This indicates the overall trend rises every year. This gradient shows that there is a progressive increase in the amount of money households spend on transport with respect o time. The spending has progressively risen from 2004 to 2011 by an average of 63.72.
