bo : -6 by : -4 b₂: -2 4 Year The correct time series plot is plot B ✔ Comment on the appropriateness of a linear trend. A linear trend is not appropriate ✔ Check My Work 5 6 7 b. Develop a quadratic trend equation that can be used to forecast revenue (to 4 decimals). T = b + bit + by Reset Problem 8 9 10 H c. Using the trend equation developed in part (b), forecast revenue in year 11 (to 2 decimals).
bo : -6 by : -4 b₂: -2 4 Year The correct time series plot is plot B ✔ Comment on the appropriateness of a linear trend. A linear trend is not appropriate ✔ Check My Work 5 6 7 b. Develop a quadratic trend equation that can be used to forecast revenue (to 4 decimals). T = b + bit + by Reset Problem 8 9 10 H c. Using the trend equation developed in part (b), forecast revenue in year 11 (to 2 decimals).
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section: Chapter Questions
Problem 2SGR
Related questions
Question
100%
Giovanni Food Products 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 $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is contained in the Excel Online file below. Construct a spreadsheet to answer the following questions.
Transcribed Image Text:Excel
5
H2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
File
35
36
37
A
Year
123456789
10
template - Saved
U
Home
=
B
Year²
x
Insert
Arial
fx
C
Revenue ($
millions)
Data +
8.75
11.24
12.92
14.60
15.89
17.25
18.43
18.58
18.53
18.91
Draw
D
✓10
Page Layout
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
#N/A
E
Formula
Calculation Mode: Automatic Workbook Statistics
F
B
Formulas
Part a
Part b
G
Search (Option + Q)
Data
Review
H
View
ab
Help
General
Use the area below to draw a time series plot.
K
←0
.00
.00
→.0
L
M
v
N
After reading these instructions delete all text in this shaded area.
Use the XLMiner Analysis ToolPak to conduct your Linear Regression analysis.
After deleting all text in this shaded area, set the output range in the ToolPak to the top left cell of this area (H19).
Your Linear Regression analysis output should fit into this shaded area.
O
Ev
Editing
P
T
O
Q
Give Feedback to Microsoft
Comments
R
T
S
>
90% +
Transcribed Image Text:bo :
b₁ :
-6
b₂ :
4
-2
2
3
Check My Work
4 5
Year
The correct time series plot is plot B
Comment on the appropriateness of a linear trend.
A linear trend is not appropriate
b. Develop a quadratic trend equation that can be used to forecast revenue (to 4 decimals).
Tt = bo+bit+bt
6
7
Reset Problem
8
9 10
c. Using the trend equation developed in part (b), forecast revenue in year 11 (to 2 decimals).
Expert Solution
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 6 images
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Big Ideas Math A Bridge To Success Algebra 1: Stu…
Algebra
ISBN:
9781680331141
Author:
HOUGHTON MIFFLIN HARCOURT
Publisher:
Houghton Mifflin Harcourt