The following table shows a company's annual revenue (in billions of dollars) for 2009 to 2014. Year Period (t) Revenue 2009 1 23.8 2010 2 29.2 2011 3 37.8 2012 4 50.1 2013 5 59.9 2014 6 66.8 -Develop a linear trend equation for this time series to forecast revenue (in billions of dollars). (Round your numerical values to three decimal places.) -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.) -Compute an estimate of this company's revenue (in billions of dollars) for 2015. (Round your answer to two decimal places.)
The following table shows a company's annual revenue (in billions of dollars) for 2009 to 2014. Year Period (t) Revenue 2009 1 23.8 2010 2 29.2 2011 3 37.8 2012 4 50.1 2013 5 59.9 2014 6 66.8 -Develop a linear trend equation for this time series to forecast revenue (in billions of dollars). (Round your numerical values to three decimal places.) -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.) -Compute an estimate of this company's revenue (in billions of dollars) for 2015. (Round your answer to two decimal places.)
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....
Related questions
Question
The following table shows a company's annual revenue (in billions of dollars) for 2009 to 2014.
Year | Period (t) | Revenue |
2009 | 1 | 23.8 |
2010 | 2 | 29.2 |
2011 | 3 | 37.8 |
2012 | 4 | 50.1 |
2013 | 5 | 59.9 |
2014 | 6 | 66.8 |
-Develop a linear trend equation for this time series to forecast revenue (in billions of dollars). (Round your numerical values to three decimal places.)
-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.)
-Compute an estimate of this company's revenue (in billions of dollars) for 2015. (Round your answer to two decimal places.)
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 2 steps with 3 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Calculus For The Life Sciences
Calculus
ISBN:
9780321964038
Author:
GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:
Pearson Addison Wesley,