According to the National Association of Theatre Owners, the average U.S. ticket price has been steadily increasing over the past several years. The following data show the average price during an eight-year period. These data can also be found in the Excel file average ticket price.xlsx.

Year Price ($) Year Price ($)

2006 6.55 2010 7.89 2007 6.88 2011 7.93 2008 7.18 2012 7.96 2009 7.50 2013 7.94

a. Construct a graph showing the average ticket price over time.

b. Forecast the average ticket price in the United States for 2014 using a trend projection.

c. Calculate the MAD for this forecast.

AppendixLO1