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StatisticsStatistics for Business & Economics, Revised (MindTap Course List)The following data show the number of rental cars in service for three rental car companies: Hertz, Avis, and Dollar. The data are for the years 2007-2010 and are in thousands of vehicles ( Auto Rental News website, May 15, 2011). Company 2007 Cars in Service (1000s) 2010 2008 2009 Hertz 327 311 286 290 Dollar 167 140 106 108 Avis 204 220 300 270 a. Construct a time series graph for the years 2007 to 2010 showing the number of rental cars in service for each company. Show the time series for all three companies on the same graph. b. Comment on who appears to be the market share leader and how the market shares are changing over time. c. Construct a bar chart showing rental cars in service for 2010. Is this chart based on cross-sectional or time series data?BuyFind*arrow_forward*

12th Edition

David R. Anderson + 4 others

Publisher: South-Western College Pub

ISBN: 9781285846323

Chapter 1, Problem 14SE

Textbook Problem

The following data show the number of rental cars in service for three rental car companies: Hertz, Avis, and Dollar. The data are for the years 2007-2010 and are in thousands of vehicles (*Auto Rental News* website, May 15, 2011).

Company |
2007 |
Cars in Service (1000s) |
2010 |
||

2008 |
2009 |
||||

Hertz | 327 | 311 | 286 | 290 | |

Dollar | 167 | 140 | 106 | 108 | |

Avis | 204 | 220 | 300 | 270 |

a. Construct a time series graph for the years 2007 to 2010 showing the number of rental cars in service for each company. Show the time series for all three companies on the same graph.

b. Comment on who appears to be the market share leader and how the market shares are changing over time.

c. Construct a bar chart showing rental cars in service for 2010. Is this chart based on cross-sectional or time series data?

Statistics for Business & Economics, Revised (MindTap Course List)

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