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The following data set shows U.S. annual petroleum imports (in billions of barrels) from 1960 through 1969. Use it to estimate the following statistics. Year

The following data set shows U.S. annual petroleum imports (in billions of barrels) from 1960 through 1969. Use it to estimate the following statistics.

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Year Imports 1960 664 1961 901 1962 1,243 1963 2,210 1964 2,529 1965 1,850 1966 2,926 1967 3,225 1966 4,194 1969 4,937 (a) Estimate a linear forecasting model for petroleum imports. Fill in the forecasting equation below. Round both values to 1 decimal place. (b) Estimate a quadratic forecasting model for petroleum imports. Fill in the equation below. Round all values to 1 decimal place. (c) Estimate an exponential forecasting model for petroleum imports. Fill in the equation below. Raund both values to 5 decimal places. 1;: = (8\" t) ((1) Forecast petroleum imports in 1970 and 1971 within each of your 3 forecasting models. Fill in the forecasting table below. Round all forecasts to the whole number. Year Linear Quadratic Exponential 1970 1971

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