More images for certain company produces and sells frozen pizzas to public schools throughout the eastern...

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More images for certain company produces and sells frozen pizzasto public schools throughout the eastern United States. Using avery aggressive marketing strategy, they have been able to increasetheir annual revenue by approximately $10 million over the past 10years. But increased competition has slowed their growth rate inthe past few years. The annual revenue, in millions of dollars, forthe previous 10 years is shown.
Year Revenue
1. 8.43
2. 10.94
3. 13.08
4. 14.11
5. 16.21
6. 17.21
7. 18.37
8. 18.55
9. 18.50
10. 18.33
(a.) construct a time series plot, determine the appropriatenessof the linear trend.
(b.) develop a quadratic trend equation that can be used toforecast revenue.
(c) Using the trend equation developed in part (b), forecastrevenue (in millions of dollars) in year 11.

Answer & Explanation Solved by verified expert

3.6 Ratings (467 Votes)

aThe time series plot for Revenue data is obtained in excel byfollowing this stepSelect the data values then INSERTRecommended Charts X YScatter OKThe See Answer

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