Question
In: Statistics and Probability
Shown here are Caterpillar's annual global sales and revenue streams for the years 2004 through 2014....
Shown here are Caterpillar's annual global sales and revenue streams for the years 2004 through 2014. By observing the data graphically and analyzing the data statistically using techniques and concepts from this chapter (forecasting trend line, etc.), share your insights and conclusions about Caterpillar's annual global sales and revenue streams over this period of time.
| YEAR | SALES AND REVENUE STREAMS ($ BILLIONS) |
| 2004 | 30.31 |
| 2005 | 36.34 |
| 2006 | 41.52 |
| 2007 | 44.96 |
| 2008 | 51.32 |
| 2009 | 32.40 |
| 2010 | 42.59 |
| 2011 | 60.14 |
| 2012 | 65.88 |
| 2013 | 55.66 |
| 2014 | 55.18 |
Solutions
Expert Solution
ANSWER::
The best way to project the data in the form of graphically and analyzing data statistically is time series trend model
Forecast vs Actual:
Forecast is the average sales and revenue from year 2004 to 2014. Actuals are the real sales numbers and comparison of forecast and actuals and differences are projected in the first graph.
Second graph is used to predict the sales for the future year. The graph is showing the least square regression equation on the chart. which will help to predict the numbers
Formula reference:
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orchestra answered 2 years agoRelated Solutions
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2005
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2007
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2008
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2009
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2010
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2015
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$
34,100
Cost of goods
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22,620
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$
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Operating
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2,006
Administration
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5,320
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1
23.6
2010
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29.2
2011
3
37.8
2012
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50.3
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59.8
2014
6
66.6
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