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Exhibit 18

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Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011. Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . The autoregressive models of order 1 and 2, Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . and Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below.
Model AR(1): Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . Model AR(2): Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models, Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . and Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . ,through the use of MSE and MAD.Hint.You may compute the errors by clicking "Residuals";to analyze Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . instead of Exhibit 18.7.The following table shows the annual revenues (in millions of dollars)of a pharmaceutical company over the period 1990-2011.   The autoregressive models of order 1 and 2,   and   ,were applied on the time series to make revenue forecasts.The relevant parts of Excel regression outputs are given below. Model AR(1):   Model AR(2):   Refer to Exhibit 18.7.(Use Regression in Data Analysis of Excel. )Compare the autoregressive models,   and   ,through the use of MSE and MAD.Hint.You may compute the errors by clicking  Residuals ;to analyze   instead of   ,it suffices to click  Constant is Zero . ,it suffices to click "Constant is Zero".


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