managerial Economics

Q5. The following table shows gasoline sales in the United States (in millions of barrels) from the first quarter of 2016 to the last quarter of 2019: Year I II III IV 2016 101 102 102 103 2017 104 104 105 107 2018 100 102 104 101 2019 105 106 108 109 i. Estimate the linear trend and use it to forecast gasoline sales in the United States in c Page 2 of 3 f 2020. ii. Estimate the log-linear trend and use it to forecast gasoline sales in the United States in each quarter of 2020. iii. Apply sessional Correction by using Ratio to Trend Method for the trend that fits the data better