The general fund budget for a state for 1988 (Period 1) to 2011 (Period 24) follows.YearPeriodBudget($billions)198813.09198923.29199033.57199144.32199254.36199364.54199474.69199585.15199695.341997105.671998116.011999126.22000136.482001146.652002156.562003166.782004176.982005187.652006198.382007208.572008218.662009228.432010238.232011248.76Develop a linear trend equation for this time series. Round your answers to 4 decimals.T t = + t What is the forecast for 2012? Round your answer to two decimal places.$ billion

linear trend line mean of year = ∑xn =4798824 = 1999.5 mean of budget = ∑xn = 148.3624 = 6.1812…

Answered: Period Budget ($billions) 1988 1 3.09…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Question

The general fund budget for a state for 1988 (Period 1) to 2011 (Period 24) follows.

Year	Period	Budget ($billions)
1988	1	3.09
1989	2	3.29
1990	3	3.57
1991	4	4.32
1992	5	4.36
1993	6	4.54
1994	7	4.69
1995	8	5.15
1996	9	5.34
1997	10	5.67
1998	11	6.01
1999	12	6.2
2000	13	6.48
2001	14	6.65
2002	15	6.56
2003	16	6.78
2004	17	6.98
2005	18	7.65
2006	19	8.38
2007	20	8.57
2008	21	8.66
2009	22	8.43
2010	23	8.23
2011	24	8.76

Develop a linear trend equation for this time series. Round your answers to 4 decimals.

T _t= + t

What is the forecast for 2012? Round your answer to two decimal places.
$ billion

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Integers$

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.

Similar questions