Question

In: Statistics and Probability

Period Receipts 1 30172000 2 16916000 3 11794000 4 7862000 5 6354000 6 5222000 7 4106000...

Period Receipts
1 30172000
2 16916000
3 11794000
4 7862000
5 6354000
6 5222000
7 4106000
8 3368000
9 2302000
10 2440000
11 2472000
12 2766000
13 2856000
14 2300000
15 1704000
16 1776000
17 1362000
18 1158000
19 1124000

Use the formula for the "best" trend model to forecast the time series (Receipts) for x = t = 20.
Round the forecast to the nearest whole number.

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