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A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue. 1 18 2 3 14 4 12 5 6 7 8 9 10 201 16- 8.53 10.84 10- 12.88 14.01 16.41 (a) Construct a time series plot. 17.11 18 14 KEKE 0 1 2 3 4 2 3 4 5 6 7 8 9 10 11 Year 18.27 18.55 18.30 18.43 0 1 2 3 4 5 6 7 8 6 7 8 9 10 11 Year 20 16- 14 Comment on the appropriateness of a linear trend. The time series plot shows that a linear trend is most appropriate. The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. 20 01 234 3 4 5 6 7 8 9 10 11 Year DO 20 18 16- 14 12 10 8 0 0 1 2 3 4 5 6 7 8 9 10 11 Year

A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue. 1 18 2 3 14 4 12 5 6 7 8 9 10 201 16- 8.53 10.84 10- 12.88 14.01 16.41 (a) Construct a time series plot. 17.11 18 14 KEKE 0 1 2 3 4 2 3 4 5 6 7 8 9 10 11 Year 18.27 18.55 18.30 18.43 0 1 2 3 4 5 6 7 8 6 7 8 9 10 11 Year 20 16- 14 Comment on the appropriateness of a linear trend. The time series plot shows that a linear trend is most appropriate. The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. 20 01 234 3 4 5 6 7 8 9 10 11 Year DO 20 18 16- 14 12 10 8 0 0 1 2 3 4 5 6 7 8 9 10 11 Year

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter4: Eigenvalues And Eigenvectors
Section4.6: Applications And The Perron-frobenius Theorem
Problem 25EQ
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(b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) T₁ = (c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.) $ million
Transcribed Image Text:(b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) T₁ = (c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.) $ million
A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue Revenue ($ millions) 1 2 3 4 5 6 7 8 9 10 8.53 20- 18- 10.84 12.88 14.01 16.41 17.11 18.27 18.55 18.30 (a) Construct a time series plot. 18.43 0 1 2 3 4 5 6 Year 7 8 9 10 11 Revenue ($ millions) 18- 16- 14- 12- 10 8 6- 4 2 0 1 2 3 4 5 6 Year Comment on the appropriateness of a linear trend. O The time series plot shows that a linear trend is most appropriate. O The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. 7 8 9 10 11 C Revenue ($ millions) 18 0 1 2 3 4 5 6 7 8 9 10 11 Year Revenue ($ millions) 086420 4 2- 0 1 2 3 4 5 6 Year 7 8 9 10 11 Ⓡ
Transcribed Image Text:A certain company produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy, they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue Revenue ($ millions) 1 2 3 4 5 6 7 8 9 10 8.53 20- 18- 10.84 12.88 14.01 16.41 17.11 18.27 18.55 18.30 (a) Construct a time series plot. 18.43 0 1 2 3 4 5 6 Year 7 8 9 10 11 Revenue ($ millions) 18- 16- 14- 12- 10 8 6- 4 2 0 1 2 3 4 5 6 Year Comment on the appropriateness of a linear trend. O The time series plot shows that a linear trend is most appropriate. O The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. 7 8 9 10 11 C Revenue ($ millions) 18 0 1 2 3 4 5 6 7 8 9 10 11 Year Revenue ($ millions) 086420 4 2- 0 1 2 3 4 5 6 Year 7 8 9 10 11 Ⓡ
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