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 2003 O 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 General Fund Revenue Receipts ($ billions) General Fund Period Revenue Receipts ($ billions) HO 1 2 3 4 5 6 7 8 9 10 11 12 (a) Construct a time-series plot. 13 15 024 6 6.683 6.878 7.555 8.276 8.473 8.554 8.326 8.125 8.659 8.991 9.208 9.443 9.866 10.248 10.378 8 Period 10 12 14 16 What type of pattern exists in the data? O The time series plot shows a horizontal pattern. O The time series plot shows a nonlinear trend. O The time series plot shows a seasonal pattern. The time series plot shows a linear trend. @O General Fund Revenue Receipts ($ billions) NECROORGAN 0 2 4 6 8 Period 10 12 14 16 (b) Develop a linear trend equation for this time series. (Round your numerical values to three decimal places.) (c) What is the forecast (in billions of dollars) for period 16? (Round your answer to three decimal places.) @Ⓡ General Fund Revenue Receipts ($ billions) IN 0 2 4 6 8 Period 10 12 14 16 General Fund Revenue Receipts ($ billions) O✓ N-ORONDATA 0 24 6 8 10 12 14 16 Period C

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100%
he general fund revenue receipts for a particular U.S. state for 2003 (period 1)
General Fund
($ billions)
Year Period
2003 1
2004
888888888
01
2015
General Fund Revenue
Receipts ($ billions)
210987
02
Period
What type of pattern exists in the data
The time series plot shows. horizontal pattern
O The time series plot shows a nonlinear trend.
O The time series plot shows a seas
The time series plot shows a linear trend.
(b) Develop a linear trend equation.
General Fund Revenue
Receipts ($ billions)
NEO
(c) What is the forecast (in billions of dollars) for period: (Round your answer to three
s
billion
Ⓒ
General Fund Revenue
Receipts ($billions)
==
NHO
Period
NIORBTINIO
BER
General Fund Revenue
Receipts ($ billions)
e
Transcribed Image Text:he general fund revenue receipts for a particular U.S. state for 2003 (period 1) General Fund ($ billions) Year Period 2003 1 2004 888888888 01 2015 General Fund Revenue Receipts ($ billions) 210987 02 Period What type of pattern exists in the data The time series plot shows. horizontal pattern O The time series plot shows a nonlinear trend. O The time series plot shows a seas The time series plot shows a linear trend. (b) Develop a linear trend equation. General Fund Revenue Receipts ($ billions) NEO (c) What is the forecast (in billions of dollars) for period: (Round your answer to three s billion Ⓒ General Fund Revenue Receipts ($billions) == NHO Period NIORBTINIO BER General Fund Revenue Receipts ($ billions) e
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