I don't really understand how to estimate revenue. I have been given revenues from previous years...

I don't really understand how to estimate revenue. I have been given revenues from previous years and I am being asked to estimate the revenue for FY2020 and explain my rationale. Please help thank you! Please show all relevant work so I can understand how you got to the answer. Thank you!

PS: if possible please use regression including a graph.

Year	Revenue Collections
2002	$ 329,687
2003	$ 384,829
2004	$ 378,109
2005	$ 447,858
2006	$ 523,845
2007	$ 621,253
2008	$ 824,460
2009	$ 739,140
2010	$ 821,729
2011	$ 1,035,700
2012	$ 901,902
2013	$ 867,344
2014	$ 857,415
2015	$ 885,966
2016	$ 963,744
2017	$ 1,141,337
2018	$ 1,201,877
2019	$ 1,116,045
2020

Expert Solution

regression equation is

y= 48570x+ 318766

Forecast for 2020 = 48570*19+ 318766 =

1241596.00

WORKINGS

jeff jeffy answered 3 months ago

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