Answer to Question #14282 in Statistics and Probability for Nita

Question

Gross revenue data (in millions of N$) for Atlantic Airlines for a ten year period follow.

Year Revenue Year Revenue
1 2428 6 4264
2 2951 7 4738
3 3533 8 4460
4 3618 9 5318
5 3616 10 6915

1.1) Develop a linear trend equation for this time series.
1.2) Comment on what the equation tells about the gross revenue for Hispanic airlines for the ten year period.
1.3) Provide the forecasts for gross revenue for 11 and 12 year.