Giovanni Food Products produces and sells frozen pizzas to public schools throughout the eastern United States. Using

Question:

Giovanni Food Products produces and sells frozen pizzas to public schools throughout the eastern United States. Using a very aggressive marketing strategy they have been able to increase their annual revenue by approximately $10 million over the past 10 years. But increased competition has slowed their growth rate in the past few years. The annual revenue, in millions of dollars, for the previous 10 years is shown

a. Construct a time series plot. Comment on the appropriateness of a linear trend.

b. Using Minitab or Excel, develop a quadratic trend equation that can be used to forecast revenue.

c. Using the trend equation developed in part (b), forecast revenue in year 11.

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Economics

ISBN: 9780324783247

11th Edition

Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson

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