Giovanni Food Products produces and sells frozen pizzas to public schools throughout the eastern United States. Using
Question:
Year Revenue
1 ........... 8.53
2 ........... 10.84
3 ........... 12.98
4 ........... 14.11
5 ........... 16.31
6 ........... 17.21
7 ........... 18.37
8 ........... 18.45
9 ........... 18.40
10........... 18.43
a. Construct a time series plot. Comment on the appropriateness of a linear trend.
b. Using Excel Solver or LINGO, develop a quadratic trend equation that can be used to forecast revenue.
c. Using the trend equation developed in part (b), forecast revenue in year 11.
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Related Book For
Modern Business Statistics With Microsoft Excel
ISBN: 9781337115186
6th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran
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