A time-series plot often helps you determine the appropriate model to use. For this problem, use each
Question:
a. Plot the observed data (Y) over time (X) and plot the logarithm of the observed data (log Y) over time (X) to determine whether a linear trend model or an exponential trend model is more appropriate.
b. Compute the appropriate forecasting equation.
c. Forecast the value for 2012.
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Related Book For
Statistics For Managers Using Microsoft Excel
ISBN: 772
7th Edition
Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat
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