a. Report the measure of accuracy: MAE. Round your answer to four decimals. b. Report the measure of accuracy: RMSE. Round your answer to four decimals. c. Report the measure of accuracy: MAPE expressed as a percent. (Convert to a percent and round to two decimals. For instance, if your answer is 0.0123, it will become 1.23%, but do not type the percent sign, so it's just 1.23) d. Using the trend equation developed, forecast revenue in year 11. Round the answer to four decimal places. e. Does autocorrelation appear to be a problem? Plot the forecast error against the time variable. Compute the DW test statistic.  (Round to three decimals.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
icon
Related questions
Question
100%

a. Report the measure of accuracy: MAE. Round your answer to four decimals.
b. Report the measure of accuracy: RMSE. Round your answer to four decimals.
c. Report the measure of accuracy: MAPE expressed as a percent.
(Convert to a percent and round to two decimals. For instance, if your answer is 0.0123, it will become 1.23%, but do not type the percent sign, so it's just 1.23)
d. Using the trend equation developed, forecast revenue in year 11. Round the answer to four decimal places.
e. Does autocorrelation appear to be a problem? Plot the forecast error against the time variable. Compute the DW test statistic.  (Round to three decimals.)

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 review, in millions of dollars,
for the previous 10 years is shown.
Year
Revenue
8.53
10.84
12.98
14.11
16.31
17.21
18.37
18.45
18.40
18.43
1
2
3
4
5
6
7
8
9
10
Transcribed Image Text: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 review, in millions of dollars, for the previous 10 years is shown. Year Revenue 8.53 10.84 12.98 14.11 16.31 17.21 18.37 18.45 18.40 18.43 1 2 3 4 5 6 7 8 9 10
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 5 steps with 2 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning