A. Given the following trend equation based on five years of annual sales (in mi
ID: 3225043 • Letter: A
Question
A.
Given the following trend equation based on five years of annual sales (in millions of dollars), beginning in 2005:
= 4.53 + 1.54t
The estimated value for 2008 is ______.
A.9.15
B.10.69
C.12.23
D.6.07
*PLEASE CHOOSE 1 CORRECT ANSWER.*
B.
A time series is a collection of data that _______________.
A.records past performance
B.records future performance
C.is limited to yearly data
D.is limited to quarterly data
*PLEASE CHOOSE THE 1 CORRECT ANSWER*
C.
The following linear trend equation was developed for annual sales from 2005 to 2009, with 2005 as the base year. = 500 + 60t (in $thousands). What are the estimated sales for 2010 (in $thousands)?
A.$500
B.$860
C.$1,040
D.$1,100
*PLEASE CHOOSE 1 CORRECT OPTION*
Explanation / Answer
A.
Given linear trend equation Y^(t) = 4.53 + 1.54t
Beginning in 2005 ,The estimated value for 2008 , so t= 4
Y^(4 )= 4.53 +1.54(4) = 10.69 ( in millions of dollars)
Option is B
B.
Option B. records future performance
C
Given linear trend equation Y^(t) = 500 + 60t
Sales starting from 2005 to 2009, estimated sales for 2010 is, so t= 6
Y^(6) = 500 + 60(6) =$860 ( in thousands )
Option is B
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