Forbes magazine (www.Forbes.com) ranks NFL teams by value each year. The data below are the value of
Question:
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a. Construct a time series plot. What type of pattern exists in the data?
b. Using Excel Solver or LINGO, develop the quadratic trend equation that can be used to forecast the team€™s value.
c. Using Excel Solver or LINGO, develop the exponential trend equation that can be used to forecast the team€™s value.
d. Using Excel Solver or LINGO, develop the linear trend equation that can be used to forecast the team€™s value.
e. Which equation would you recommend using to estimate the team€™s value in 2009?
f. Use the model you recommended in part (e) to forecast the value of the Colts in2009.
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a The time series plot indicates a slight curvature in the data b The following output shows the results of using Excel Solver to fit a quadratic tren...View the full answer
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Kalyan M. Ranwa
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Related Book For 
An introduction to management science quantitative approaches to decision making
ISBN: 978-1111532222
13th edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
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