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Annual retail store revenue for a technology company from 2007 to 2017 are shown below. Year Period Retail Store Revenue ($ billions) 2007 1 3.915
Annual retail store revenue for a technology company from 2007 to 2017 are shown below.
Year | Period | Retail Store Revenue ($ billions) |
---|---|---|
2007 | 1 | 3.915 |
2008 | 2 | 6.110 |
2009 | 3 | 6.777 |
2010 | 4 | 8.880 |
2011 | 5 | 14.327 |
2012 | 6 | 19.028 |
2013 | 7 | 20.428 |
2014 | 8 | 21.262 |
2015 | 9 | 27.909 |
2016 | 10 | 26.998 |
2017 | 11 | 30.703 |
(b)
Using statistical software, develop a linear trend equation for this time series to forecast revenue (in $ billions). (Round your numerical values to four decimal places.)
Tt =______
(c)
Use the trend equation developed in part (b) to forecast retail store revenue (in $ billions) for 2018. (Round your answer to one decimal place.)
$ billion ____
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