|JetBlue Airlines Revenue,
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(a) Use Excel, MegaStat, or MINITAB to fit both a linear and an exponential trend to the time series. (Round your answers to 2 decimal places.)
|Linear||yt = t +|
|Exponential||yt = e t|
(b) Make annual forecasts for 2016–2018, using the linear and exponential trend models. (Do not round the intermediate calculations. Round your final answers to 2 decimal places.)
(a) The regression is done using Excel. For linear regression, the equation to be fitted is:
For exponential regression, the equation to be fitted is:
t is the time difference from the base year of 2007. This means that 2008 corresponds to t=1 and 2015 corresponds to t=8.
The regression gives the following equations:
(b) Substituting t=9, 10, and 11 in the model equations give:
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