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27. Forbes magazine (www.Forbes.com) ranks NFL teams by value each year. The data below are the value of the Indianapolis Colts from 1998 to 2008.
27. Forbes magazine (www.Forbes.com) ranks NFL teams by value each year. The data below are the value of the Indianapolis Colts from 1998 to 2008. Year Period Value ($ million) 1998 l 227 1 999 2 305 2000 3 332 2001 4 367 2002 5 4 1 9 2003 6 547 2004 7 609 2005 8 715 2006 9 837 2007 10 911 2008 1 1 1076 Construct a time series plot. What type of pattern exists in the data? Using Excel Solver or LINGO, develop the quadratic trend equation that can be used to forecast the team's value. Using Excel Solver or LINGO, develop the exponential trend equation that can be used to forecast the team's value. Using Excel Solver or LINGO, develop the linear trend equation that can be used to forecast the team's value. Which equation would you recommend using to estimate the team's value in 2009? Use the model you recommended in part (e) to forecast the value of the Colts in 2009
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