Ca) Construct a time series piot. 20 18 16 14 12 10 0 1 23 456 789 10 11 01 23 456 789 10 11 5678 9 10 11 $678 10 11 Year Year Year Year Comment on the appropriateness of a linear trend O The time series plot shows that a linear trend is most appropriate. O The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) e) Using the trend equation developed in part (b), forecast revenue (in milions of dollars) in year 11. (Round your answer to two decimal places.) milion suopu s anuasa Revenue (S millions) Revenue (S millions tevenue ($ millions

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Chapter4: Eigenvalues And Eigenvectors
Section4.6: Applications And The Perron-frobenius Theorem
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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 $10 million over the past 10 years. But increased competition has slowed their growth rate in the past
few years. The annual revenue, in millions of dollars, for the previous 10 years is shown.
Year
Revenue
1
8.63
2
10.84
3
12.98
4
14.21
5
16.31
17.31
7
18.37
8
18.55
18.40
10
18.53
(a) Construct a time series plot.
20
20
18
18-
16-
1
3
5
6
7 8 9 10 11
1
2
3 4
6
8 9 10 11
1
2
4
5 6
8 9 10 11
1 2
3
5
6
7 8
9
10 11
Year
Year
Year
Year
Comment on the appropriateness of a linear trend.
O The time series plot shows that a linear trend is most appropriate.
O The time series plot shows that neither a linear nor a curvilinear trend is appropriate.
O The time series plot shows that a curvilinear trend may be more appropriate.
(b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.)
T: =
(c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.)
million
Revenue ($ millions)
Revenue ($ millions)
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 $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown. Year Revenue 1 8.63 2 10.84 3 12.98 4 14.21 5 16.31 17.31 7 18.37 8 18.55 18.40 10 18.53 (a) Construct a time series plot. 20 20 18 18- 16- 1 3 5 6 7 8 9 10 11 1 2 3 4 6 8 9 10 11 1 2 4 5 6 8 9 10 11 1 2 3 5 6 7 8 9 10 11 Year Year Year Year Comment on the appropriateness of a linear trend. O The time series plot shows that a linear trend is most appropriate. O The time series plot shows that neither a linear nor a curvilinear trend is appropriate. O The time series plot shows that a curvilinear trend may be more appropriate. (b) Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue (in millions of dollars). (Round your numerical values to three decimal places.) T: = (c) Using the trend equation developed in part (b), forecast revenue (in millions of dollars) in year 11. (Round your answer to two decimal places.) million Revenue ($ millions) Revenue ($ millions)
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