Practical Management Science
Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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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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