Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter5: Business And Economic Forecasting
Section: Chapter Questions
Problem 5E: A firm experienced the demand shown in the following table. *Unkown future value to be forecast Fill...
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Question
![Which trend would you choose to forecast the 2013 value of Bob's beer
can collection?
Dollars
Market Value of Bob's Beer Can Collection,
1989-2009
300
250
200
150
100
50
0
-50
-100
1989
1991
1993-
1995-
ye-10.23x+229.84
R=0.7036
6002
2011-
2013-
O Linear model is preferred.
O. Neither model is appropriate.
Either model works-they are equivalent.
Exponential model is preferred.
Dollars
Market Value of Bob's Beer Can Collection,
1989-2009
300
250
200
150
100
50
0
1989
1991
1993-
1995-
Y-241.72e-0083
R²=0.675
1997
1999-
2001
2003
2005
2007
6002
2011-
2013-](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F85e081fc-591c-49a5-ae4c-5ce9acfd2a4b%2F59712a9b-e7e7-4a70-8c12-68fb0d61547b%2Fv1tt4o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Which trend would you choose to forecast the 2013 value of Bob's beer
can collection?
Dollars
Market Value of Bob's Beer Can Collection,
1989-2009
300
250
200
150
100
50
0
-50
-100
1989
1991
1993-
1995-
ye-10.23x+229.84
R=0.7036
6002
2011-
2013-
O Linear model is preferred.
O. Neither model is appropriate.
Either model works-they are equivalent.
Exponential model is preferred.
Dollars
Market Value of Bob's Beer Can Collection,
1989-2009
300
250
200
150
100
50
0
1989
1991
1993-
1995-
Y-241.72e-0083
R²=0.675
1997
1999-
2001
2003
2005
2007
6002
2011-
2013-
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