Suppose the general fund revenue receipts for a particular U.S. state for 2003 (period 1) to 2017 (period 15) are in the following table. Year Period 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 General Fund Revenue Receipts ($ billions) 6.683 6.878 7.535 8.276 8.473 8.554 8.326 8.125 8.659 8.991 9.208 9.443 9.866 10.228 10.378

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(b) Develop a linear trend equation for this time series. (Round your numerical values to three decimal places.)
Tt=
(c) What is the forecast (in billions of dollars) for period 16? (Round your answer to three decimal places.)
billion
Transcribed Image Text:(b) Develop a linear trend equation for this time series. (Round your numerical values to three decimal places.) Tt= (c) What is the forecast (in billions of dollars) for period 16? (Round your answer to three decimal places.) billion
Suppose the general fund revenue receipts for a particular U.S. state for 2003 (period 1) to 2017 (period 15) are in the following table.
Year Period
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
General Fund
Revenue Receipts
($ billions)
6.683
6.878
7.535
8.276
8.473
8.554
8.326
8.125
8.659
8.991
9.208
9.443
9.866
10.228
10.378
Transcribed Image Text:Suppose the general fund revenue receipts for a particular U.S. state for 2003 (period 1) to 2017 (period 15) are in the following table. Year Period 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 General Fund Revenue Receipts ($ billions) 6.683 6.878 7.535 8.276 8.473 8.554 8.326 8.125 8.659 8.991 9.208 9.443 9.866 10.228 10.378
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