Annual retail store revenue for Apple from 2007 to 2017 are shown below (investorapple website). a. Construct

Question:

Annual retail store revenue for Apple from 2007 to 2017 are shown below (investorapple website). 

Retail Store Revenue Year Period ($ billions) 2007 1 $4.115 2008 $6.310 2009 3 $6.577 2010 4 $9.080 2011 5 $14.127 2012 6 $18.828 2013 7 $20.228 2014 $21.462 2015 9 $28.109 2016 10 $27.198 2017 11 $30.503


a. Construct a time series plot. What type of pattern exists in the data? 

b. Using statistical software, develop a linear trend equation for this time series. 

c. Use the trend equation developed in part (b) to forecast retail store revenue for 2018.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business & Economics

ISBN: 9781337901062

14th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

Question Posted: