The following table gives the average monthly exchange rate between the U.S. dollar and the euro for

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The following table gives the average monthly exchange rate between the U.S. dollar and the euro for 2009. It shows that 1 euro was equivalent to 1.324 U.S. dollars in January 2009. Develop a trend line that could be used to predict the exchange rate for 2010. Use this model to predict the exchange rate for January 2010 and February 2010.
MONTH EXCHANGE RATE
January ............. 1.324
February ........... 1.278
March ............ 1.305
April ............. 1.320
May .............. 1.363
June .............. 1.402
July ............. 1.409
August .............. 1.427
September ........... 1.456
October ............ 1.482
November ........... 1.491
December ........... 1.461
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

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