The file Silver contains the following prices in London for an ounce of silver (in US$) on the last day of the year from 1999 to 2014:

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 price of silver at the end of 2015.

Transcribed Image Text:

Year Price (US$/ounce) Ye Price (US$/ounce) 1999 2000 2001 2002 2003 2004 2005 2006 5.330 4.570 4.520 4.670 5.965 6.815 8.830 12.900 2007 2008 2009 2010 2011 2012 2013 2014 14.760 10.790 6.990 30.630 28.180 29.950 19.500 15.970