The following table shows a company's annual revenue (in billions of dollars) for 2009 to 2014.
Year | Period (t) | Revenue ($ billions) |
---|---|---|
2009 | 1 | 23.8 |
2010 | 2 | 29.4 |
2011 | 3 | 37.9 |
2012 | 4 | 50.3 |
2013 | 5 | 59.9 |
2014 | 6 |
66.6 |
(b)
Develop a linear trend equation for this time series to forecast revenue (in billions of dollars). (Round your numerical values to three decimal places.)
Tt =
12.56+9.154t
(c)
What is the average revenue increase per year (in billions of dollars) that this company has been realizing? (Round your answer to three decimal places.)
$ billion
(d)
Compute an estimate of this company's revenue (in billions of dollars) for 2015. (Round your answer to two decimal places.)
$ billion
using minitab we have
Trend Analysis for Revenue
Data Revenue
Length 6
NMissing 0
Fitted Trend Equation
Yt = 12.86 + 9.083×t
Accuracy Measures
MAPE 4.20249
MAD 1.53048
MSD 2.56914
(b)
Develop a linear trend equation for this time series to forecast revenue (in billions of dollars). (Round your numerical values to three decimal places.)
Tt =12.860+9.083*t
(c)
What is the average revenue increase per year (in billions of dollars) that this company has been realizing? (Round your answer to three decimal places.)
$9.083 billion
(d)
Compute an estimate of this company's revenue (in billions of dollars) for 2015. (Round your answer to two decimal places.)
T2015 =12.860+9.083*7=$76.441 billion
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