Comment on the appropriateness of a linear trend. O The time series plot shows that a linear trend is most appropriate. 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. b) Using Minitab or Excel, develop quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) T = 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
Comment on the appropriateness of a linear trend. O The time series plot shows that a linear trend is most appropriate. 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. b) Using Minitab or Excel, develop quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) T = 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
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
![20
18
16+
14
12
10
8
4
+
+
1
3
4
5
6.
7
8
10 11
Year
Comment on the appropriateness of a linear trend.
The time series plot shows that a linear trend is most appropriate.
The time series plot shows that neither a linear nor a curvilinear trend is appropriate.
The time series plot shows that a curvilinear trend may be more appropriate.
(b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)
Tt =
(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
Revenue ($ millions)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fccbe0e-690a-4599-ae28-c1fea38612a2%2Fed59bdc4-1d71-4237-8cc8-c51b211dcde8%2F1yf9fls_processed.png&w=3840&q=75)
Transcribed Image Text:20
18
16+
14
12
10
8
4
+
+
1
3
4
5
6.
7
8
10 11
Year
Comment on the appropriateness of a linear trend.
The time series plot shows that a linear trend is most appropriate.
The time series plot shows that neither a linear nor a curvilinear trend is appropriate.
The time series plot shows that a curvilinear trend may be more appropriate.
(b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)
Tt =
(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
Revenue ($ millions)
![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 $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10
years is shown.
Year
Revenue
1
8.53
10.74
3
12.98
4
14.11
16.31
17.21
7
18.37
8
18.55
9.
18.40
10
18.43
(a) Construct a time series plot.
20
20
20
18
18
18
16
16
16
14+
14
14
12
12
12
10
10
10
8
8
+
+
+
+
+
+
+
0 1
4
6 7 8 9 10 11
1
4
5
6 7
8
10 11
1
2
4
5
6 7
8 9
10 11
Year
Year
Year
20
18
Revenue ($ millions)
(su
Revenue ($ millions)
++
3.
Revenue ($ millions)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6fccbe0e-690a-4599-ae28-c1fea38612a2%2Fed59bdc4-1d71-4237-8cc8-c51b211dcde8%2Fwt5lei_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 $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10
years is shown.
Year
Revenue
1
8.53
10.74
3
12.98
4
14.11
16.31
17.21
7
18.37
8
18.55
9.
18.40
10
18.43
(a) Construct a time series plot.
20
20
20
18
18
18
16
16
16
14+
14
14
12
12
12
10
10
10
8
8
+
+
+
+
+
+
+
0 1
4
6 7 8 9 10 11
1
4
5
6 7
8
10 11
1
2
4
5
6 7
8 9
10 11
Year
Year
Year
20
18
Revenue ($ millions)
(su
Revenue ($ millions)
++
3.
Revenue ($ millions)
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman