A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approxim increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue 8.63 2 10.84 13.08 4 14.21 5 16.21 17.31 18.37 18.55 9 18.40 10 18.53
A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approxim increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue 8.63 2 10.84 13.08 4 14.21 5 16.21 17.31 18.37 18.55 9 18.40 10 18.53
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 15PPS
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![A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past
increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown.
Year
Revenue
1
8.63
10.84
13.08
4
14.21
16.21
6.
17.31
7.
18.37
18.55
9
18.40
10
18.53
(a) Construct a time series plot.
20
20
20
20
18
18
18
16-
14-
16
16
14
14
12-
10-
10
10
8
8-
6
4
4-
4
2
2-
2-
1
4
5
7
10 11
2
4
6
7
8
10 11
1
2
3
4
7
8
9
10 11
1
3
4
6
7
8
9
10 11
Year
Year
Year
Year
(i
Comment on the appropriateness of a linear trend.
O The time series plot shows that neither a linear nor a curvilinear trend is appropriate.
O The time series plot shows that a curvilinear trend may be more appropriate.
O The time series plot shows that a linear trend is most appropriate.
Revenue ($ millions)
Revenue ($ millions)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F358923dd-976b-4983-a367-bafd3b4b55c1%2Fc38983a1-ce45-4bf6-9f8c-175ddd1c6bf6%2Flvvqelb_processed.png&w=3840&q=75)
Transcribed Image Text:A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past
increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown.
Year
Revenue
1
8.63
10.84
13.08
4
14.21
16.21
6.
17.31
7.
18.37
18.55
9
18.40
10
18.53
(a) Construct a time series plot.
20
20
20
20
18
18
18
16-
14-
16
16
14
14
12-
10-
10
10
8
8-
6
4
4-
4
2
2-
2-
1
4
5
7
10 11
2
4
6
7
8
10 11
1
2
3
4
7
8
9
10 11
1
3
4
6
7
8
9
10 11
Year
Year
Year
Year
(i
Comment on the appropriateness of a linear trend.
O The time series plot shows that neither a linear nor a curvilinear trend is appropriate.
O The time series plot shows that a curvilinear trend may be more appropriate.
O The time series plot shows that a linear trend is most appropriate.
Revenue ($ millions)
Revenue ($ millions)
![(b) Using statistical software, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)
(c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.)
million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F358923dd-976b-4983-a367-bafd3b4b55c1%2Fc38983a1-ce45-4bf6-9f8c-175ddd1c6bf6%2F4s1y2_processed.png&w=3840&q=75)
Transcribed Image Text:(b) Using statistical software, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)
(c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.)
million
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