In: Advanced Math
6. The following data represents a company’s revenue in millions of dollars. Year: 2010 2012 2014 2015 2016 2018 2019 Revenue: 30 32 34 35 39 39 45 Let the year 2010 be the base year with x=0.
a) Model the data with a linear function using the points in years 2010 and 2019. Round computed values to 2 decimal places. Also, using your model predict the revenue in the year 2021 accurate to 3 decimal places.
b) Set up a table of (x, y) values to be used for a least squares model and find a linear least squares model y ax b = + for the data. Express the coefficients a and b accurate to 3 decimal places. Also, what is the 2 R value accurate to 3 decimal places?
c) Use your least squares model to predict the revenue in 2020 accurate to 3 decimal places and graph the actual and predicted revenue data superimposed on the same graph.