Question: (a) Make an Excel graph of the data on the number of certified organic farms in the United States. (b) Discuss the underlying causes that
(b) Discuss the underlying causes that might explain the trend or pattern.
(c) Use Excel, MegaStat, or MINITAB to t three trends (linear, quadratic, exponential) to the time series.
(d) Which trend model do you think is best to make forecasts for the next 3 years? Why?
(e) Use each of the three fitted trend equations to make numerical forecasts for the next 3 years. How similar are the three models' forecasts?
.png)
Number of Certified Organic Farms in the United States, 2001-2008 Year Farms 2001 2002 2003 2004 2005 2006 2007 2008 6,949 7,323 8,035 8,021 8.493 9,469 11,352 12,941
Step by Step Solution
3.44 Rating (154 Votes )
There are 3 Steps involved in it
a Fairly linear increase b A growing interest in organic produce and willing... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
485-M-S-S-I (1811).docx
120 KBs Word File
