The data shown in the following table and stored in Solar Power represent the yearly amount of
Question:
The data shown in the following table and stored in Solar Power represent the yearly amount of solar power generated by utilities (in millions of \(\mathrm{kWh}\) ) in the United States from 2002 through 2016:
Year | Solar Power Generated (millions of kWh) | Year | Solar Power Generated (millions of kWh) |
---|---|---|---|
2002 | 555 | 2010 | 1,212 |
2003 | 534 | 2011 | 1,818 |
2004 | 575 | 2012 | 4,327 |
2005 | 550 | 2013 | 9,253 |
2006 | 508 | 2014 | 18,321 |
2007 | 612 | 2015 | 26,473 |
2008 | 864 | 2016 | 36,754 |
2009 | 892 |
a. Plot the data.
b. Compute a linear trend forecasting equation and plot the trend line.
c. Compute a quadratic trend forecasting equation and plot the results.
d. Compute an exponential trend forecasting equation and plot the results.
e. Using the models in (b) through (d), what are your annual trend forecasts of the yearly amount of solar power generated by utilities (in millions of kWh) in the United States in 2017 and 2018 ?
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Related Book For
Public Finance An International Perspective
ISBN: 9789814365048
1st Edition
Authors: Joshua E. Greene
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