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

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?

Transcribed Image Text:

Year: Exports: Year: Exports: 1997 1999 1998 2000 $78.8 $111.3 $71.4 $86.9 2004 $110.8 2001 2002 2003 $101.3 $97.5 $97.4