Annual retail store revenue for a technology company from 2007 to 2017 are shown below. Year Period 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 30 25 20 1 35 30 25 20- 15- 10+ 5+ 0 2 3 4 5 012 6 7 8 9 10 11 (a) Construct a time series plot. Retail Store Revenue ($ billions) 3.915 6.110 6.777 9.280 14.327 19.028 20.428 21.662 28.309 26.998 30.703 سمیہ MM 5 0 0 1 2 3 4 5 6 7 8 9 10 11 12 Period 2 3 4 5 6 7 8 9 10 11 12 Period What type of pattern exists in the data? O The time series plot shows a cyclical pattern. O The time series plot shows a horizontal pattern. The time series plot shows a downward trend. O The time series plot shows an upward trend. O O 25 20 15 10- 5- 35 30 25 20 15 10 5 0 1 2 3 4 5 6 7 8 9 10 11 12 Period AM 0 1 2 3 4 5 6 7 8 9 10 11 12 Period Q n (b) Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your numerical values to four decimal places.) T= 0.0214+2.8450 x (c) Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to one decimal place.) $34.1 ✓ billion

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Annual retail store revenue for a technology company from 2007 to 2017 are shown below.
Year Period
Retail Store Revenue ($ billions)
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
25
1
10
5+
0
2
35
30
25
20
15
10
3
4
5
6
7
8
9
(a) Construct a time series plot.
10
11
Retail Store Revenue
($ billions)
0 1 2 3
3
3.915
4
4 5
6.110
5-
0-
0 1 2 3 4 5 6
6.777
9.280
14.327
19.028
20.428
21.662
и
VM
28.309
26.998
30.703
5 6 7 8 9 10 11 12
Period
5 6 7 8 9 10 11 12
Period
What type of pattern exists in the data?
O The time series plot shows a cyclical pattern.
O The time series plot shows a horizontal pattern.
The time series plot shows a downward trend.
The time series plot shows an upward trend.
Q
Retail Store Revenue ($ billions)
25
20
15-
10
5-
0
0 1 2 3 4 5 6 7
Period
35
30
25
20
M
5
0
0 1 2 3 4 5 6 7 8 9 10 11 12
Period
8 9 10 11 12
15
10
↑
n
(b) Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your
numerical values to four decimal places.)
T, = 0.0214+ 2.84501 x
(c) Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to
one decimal place.)
$34.1
✓ billion
Transcribed Image Text:Annual retail store revenue for a technology company from 2007 to 2017 are shown below. Year Period Retail Store Revenue ($ billions) 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 25 1 10 5+ 0 2 35 30 25 20 15 10 3 4 5 6 7 8 9 (a) Construct a time series plot. 10 11 Retail Store Revenue ($ billions) 0 1 2 3 3 3.915 4 4 5 6.110 5- 0- 0 1 2 3 4 5 6 6.777 9.280 14.327 19.028 20.428 21.662 и VM 28.309 26.998 30.703 5 6 7 8 9 10 11 12 Period 5 6 7 8 9 10 11 12 Period What type of pattern exists in the data? O The time series plot shows a cyclical pattern. O The time series plot shows a horizontal pattern. The time series plot shows a downward trend. The time series plot shows an upward trend. Q Retail Store Revenue ($ billions) 25 20 15- 10 5- 0 0 1 2 3 4 5 6 7 Period 35 30 25 20 M 5 0 0 1 2 3 4 5 6 7 8 9 10 11 12 Period 8 9 10 11 12 15 10 ↑ n (b) Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your numerical values to four decimal places.) T, = 0.0214+ 2.84501 x (c) Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to one decimal place.) $34.1 ✓ billion
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Follow-up Question
A statistical program is recommended.
Annual retail store revenue for a technology company from 2007 to 2017 are shown below.
Year Period
2007
Retail Store Revenue ($ billions)
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
35
30
25
20
15
10
35
30
25
20
15
10
5-
0-
1
(a) Construct a time series plot.
+
2
3
4
0 1 2
5
6
7
8
9
10
11
Retail Store Revenue
($ billions)
30
25
20
WML
15
10
0 1 2 3 4 5 6 7 8 9 10 11 12
Period
3.915
3 4
6.110
6.777
9.280
14.327
19.028
20.428
21.662
28.309
26.998
30.703
5 6
Period
7 8 9 10 11 12
What type of pattern exists in the data?
The time series plot shows a cyclical pattern.
The time series plot shows a horizontal pattern.
O The time series plot shows a downward trend.
The time series plot shows an upward trend.
o
Retail Store Revenue ($ billions)
35
35
30
25
20
15
10
0 1 2 3 4 5 6 7 8 9 10 11 12
Period
VV
5-
0-
0 1 2 3 4 5 6 7 8 9 10 11 12
Period
A
(b) Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your
numerical values to four decimal places.)
T₁ = -0.0123 +2.8450 x
(c) Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to
one decimal place.)
$34.1
✔ billion
Transcribed Image Text:A statistical program is recommended. Annual retail store revenue for a technology company from 2007 to 2017 are shown below. Year Period 2007 Retail Store Revenue ($ billions) 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 35 30 25 20 15 10 35 30 25 20 15 10 5- 0- 1 (a) Construct a time series plot. + 2 3 4 0 1 2 5 6 7 8 9 10 11 Retail Store Revenue ($ billions) 30 25 20 WML 15 10 0 1 2 3 4 5 6 7 8 9 10 11 12 Period 3.915 3 4 6.110 6.777 9.280 14.327 19.028 20.428 21.662 28.309 26.998 30.703 5 6 Period 7 8 9 10 11 12 What type of pattern exists in the data? The time series plot shows a cyclical pattern. The time series plot shows a horizontal pattern. O The time series plot shows a downward trend. The time series plot shows an upward trend. o Retail Store Revenue ($ billions) 35 35 30 25 20 15 10 0 1 2 3 4 5 6 7 8 9 10 11 12 Period VV 5- 0- 0 1 2 3 4 5 6 7 8 9 10 11 12 Period A (b) Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your numerical values to four decimal places.) T₁ = -0.0123 +2.8450 x (c) Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to one decimal place.) $34.1 ✔ billion
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