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    Linear and quadratic trend lines

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    From 1997 through 2004, the value of US exports to Mexico was as shown below. Data are in billions of dollars.

    Year: 1997 1998 1999 2000
    Exports: $71.4 $78.8 $86.9 $111.3

    Year: 2001 2002 2003 2004
    Exports: $101.3 $97.5 $97.4 $110.8

    a. Fit a linear trend equation to the time series. Using this equation, determine the trend estimate for 2012.
    b. Fit a quadratic equation to the time series, then use the equation to determine the trend estimate for 2012.
    c. Construct a graph of the time series along with the equations fitted in parts (a) and (b). Which equation appears to better fit the data?

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    18.8
    From 1997 through 2004, the value of U.S. exports to Mexico was as shown below. Data are in billions of dollars.
    Year: 1997 1998 1999 2000 2001 202 2003 2004
    Exports: $71.4 $78.8 $86.9 $111.3 $101.3 $97.5 $97.4 $110.8
    a. Fit a ...

    Solution Summary

    A step by step solution is provided to explain the concept of linear and quadratic trend lines to the time series.

    $2.49

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