Question
Number of Certified Organic Farms in the United States, 2001-2008 Year Farms 2001 5,974 2002 6,315 2003 7,032 2004 7,006 2005 7,486 2006 8,368 2007
Number of Certified Organic Farms in the United States, 2001-2008
Year Farms
2001 5,974
2002 6,315
2003 7,032
2004 7,006
2005 7,486
2006 8,368
2007 9,932
2008 11,165
(a)Fit three trends (linear, quadratic, exponential) to the time series.(A negative value should be indicated by a minus sign.Do not round the intermediate calculations.Round your finalanswers to 2 decimal places.)
Linear yt=__?__xt+ ____?___
Quadratic yt=____?_____xt2+xt+____?____
Exponential yt= ___?____e____?____x
(b)Use each of the three fitted trend equations to make numerical forecasts for the next three years.(Round the intermediate calculations to 2 decimal places and round your finalanswers to 1 decimal place.)
t Linear Exponential Quadratic
9
10
11
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