are sales revenues for a large utility company for years 1 through 11. Forecast revenue for years 12 thr sting four years into the future, you will need to use linear regression as your forecasting method. our answers in millions. REVENUE -MILLIONS) $4,865.7 5,072.3 5,507.7 5,738.2 5,495.4 5,198.7 5,087.0 5,111.5 5,559.7 5,740.4 5,868.4 Forecast
are sales revenues for a large utility company for years 1 through 11. Forecast revenue for years 12 thr sting four years into the future, you will need to use linear regression as your forecasting method. our answers in millions. REVENUE -MILLIONS) $4,865.7 5,072.3 5,507.7 5,738.2 5,495.4 5,198.7 5,087.0 5,111.5 5,559.7 5,740.4 5,868.4 Forecast
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question

Transcribed Image Text:The following are sales revenues for a large utility company for years 1 through 11. Forecast revenue for years 12 through 15. Because
we are forecasting four years into the future, you will need to use linear regression as your forecasting method.
Note: Enter your answers in millions.
YEAR
1
2345
5
6
7
8
9
10
11
Period
12
13
14
15
REVENUE
(MILLIONS)
$4,865.7
5,072.3
5,507.7
5,738.2
5,495.4
5,198.7
5,087.0
5,111.5
5,559.7
5,740.4
5,868.4
Forecast
Expert Solution

Step 1: We will find regression line
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