A statistical program is recommended.Suppose the following table shows a company's annual revenue (in billions of dollars) for 2012 (period 1) to 2017 (period 6).| Year | Period | Sale (\$ Billions) ||------|--------|--------------------|| 2012 | 1 | 1.54 || 2013 | 2 | 1.83 || 2014 | 3 | 2.4 || 2015 | 4 | 3.17 || 2016 | 5 | 3.58 || 2017 | 6 | 4.14 |Explanation: The table presents data on a company's annual revenue over six years, starting from 2012 to 2017. The revenues are listed in billions of dollars and show a steady increase each year. In 2012, the revenue was \$1.54 billion, gradually rising to \$4.14 billion by 2017. This indicates consistent growth in the company's business performance over the given period. The image contains two exercises related to time series analysis, specifically focusing on developing a linear trend equation and forecasting sales.(b) Develop a linear trend equation for this time series. (Round your numerical values to three decimal places.)\[ T_t = \text{[blank for input]} \](c) What is the forecast for sales (in billions of dollars) for period 7? (Round your answer to two decimal places.)\[ \$ \text{[blank for input]} \text{ billions} \]

Data is given for sales according to year, We have to calculate linear trend equation . Period (x)…

Answered: (b) Develop a linear trend equation for…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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(b) Develop a linear trend equation for this time series. (Round your numerical values to three decimal places.) T₁ = (c) What is the forecast for sales (in billions of dollars) for period 7? (Round your answer to two decimal places.) $ billions