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 opens at the end of the fiscal year from 1997 to 2012 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 2013 and 2014?