The data in the following table (and stored in BBSalaries) represent the average salary of Major League Baseball players on opening day from 2000 to 2010:
Year Salary ($millions)
2000.............................1.99
2001.............................2.29
2002.............................2.38
2003.............................2.58
2004.............................2.49
2005.............................2.63
2006.............................2.83
2007.............................2.92
2008.............................3.13
2009.............................3.26
2010.............................3.27
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. Which model is the most appropriate?
f. Using the most appropriate model, forecast the average salary for 2011.