Thank you for visiting Consider the following data on the sales of books in thousands by two publishers in the years 2008 and 2012 Year Publisher A Publisher B. This page is designed to guide you through key points and clear explanations related to the topic at hand. We aim to make your learning experience smooth, insightful, and informative. Dive in and discover the answers you're looking for!
Answer :
Final answer:
To predict Publisher B's sales in 2016, calculate the growth rate based on earlier years and apply it to the 2012 data.Therefore, the predicted sales for Publisher B in the year 2016 is 145.74 thousand.
Explanation:
To predict the sales for Publisher B in the year 2016, we can assume a constant rate of growth in sales and use the data from 2008 and 2012.
Calculate the annual growth rate for Publisher B: (100.2 - 85.4) / 85.4 = 0.1738 or 17.38%.
Apply the growth rate to the sales in 2012 to get the estimated sales for 2016: 100.2 * (1 + 0.1738)^4 = 145.74 thousand.
Therefore, the predicted sales for Publisher B in the year 2016 is 145.74 thousand.
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