The general fund revenue receipts for the state of Kentucky for 2003 (period 1) to (period 15 ) follows. Do not round intermediate calculations. BudgetYearPeriod($billions)20031 6.785 20042 6.973 20053 7.647 20064 8.373 20075 8.579 20086 8.666 20097 8.428 20108 8.223 20119 8.755 201210 9.097 201311 9.301 201412 9.554 201513 9.963 201614 10.334 201715 10.474 A. Develop a linear trend equation for this time series. Round your answers to 4 decimals. Tt = ____+ _____tB. What is the forecast for 16 period ? Round your answer to two decimal places. $_____billion

Answered: A. Develop a linear trend equation for…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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The general fund revenue receipts for the state of Kentucky for 2003 (period 1) to (period 15 ) follows. Do not round intermediate calculations.

		Budget
Year	Period	($billions)
2003	1		6.785
2004	2		6.973
2005	3		7.647
2006	4		8.373
2007	5		8.579
2008	6		8.666
2009	7		8.428
2010	8		8.223
2011	9		8.755
2012	10		9.097
2013	11		9.301
2014	12		9.554
2015	13		9.963
2016	14		10.334
2017	15		10.474

A. Develop a linear trend equation for this time series. Round your answers to 4 decimals.

Tt = ____+ _____t

B. What is the forecast for 16 period ? Round your answer to two decimal places.

$_____billion

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