Computing SUE

A company's quarterly EPS (₹), oldest first, is 8.0, 8.4, 9.1, 9.6 (FY24), 8.6, 9.5, 9.9, 10.6 (FY25), 9.8, 10.2, 11.3, 12.4 (FY26). (a) List the seasonal differences $d_q = E_q - E_{q-4}$. (b) Using Definition 6A.1 with $w = 8$ and at least four prior differences, compute SUE for FY26 Q3 and FY26 Q4. (c) Why does the model use $E_q - E_{q-4}$ and not $E_q - E_{q-1}$ for an Indian consumer company? (d) Give two reasons why an analyst-consensus surprise might rank these quarters differently.