Bed Bath & Beyond is a nationwide chain of retail stores that sell a wide assortment of merchandise, including domestics merchandise and home furnishings, as well as food, giftware, and health and beauty care items. The number of stores open at the end of the fiscal year from 1997 to 2013 is stored in Bed & Bath and shown in right column.

a. Plot the data.
b. Compute a linear trend forecasting equation and plot the results.
c. Compute a quadratic trend forecasting equation and plot the results.
d. Compute an exponential trend forecasting equation and plot the results.
e. Using the forecasting equations in (b) through (d), what are your annual forecasts of the number of stores open for 2014 and 2015?
f. How can you explain the differences in the three forecasts in (e)? What forecast do you think you should use? Why?

Transcribed Image Text:

Year Sores Opened Year 108 141 1806 241 311 396 519 629 721 Stores Opened 809 1997 1998 1999 2000 2001 2002 2003 2004 2005 Year 2006 2007 2008 2009 2010 2011 2012 2013 971 1,037 1,100 1,139 1,173 1,471