Plot the market-share data and discuss possible causes

Assignment Help Basic Statistics

Reference no: EM13127797

Given the following data on Asian and European Share of U.S. Light Truck Sales(1990-2003):

Year t Percent
1990 1 16.4
1991 2 17.1
1992 3 14.3
1993 4 13.7
1994 5 14.2
1995 6 13.6
1996 7 13.6
1997 8 15.4
1998 9 16.2
1999 10 18.4
2000 11 21.2
2001 12 23.1
2002 13 23.9
2003 14 26.6
Source: Detroit Free Press, November 19, 2003. p.1A.

(a) Plot the market-share data. (b) Describe the trend (if any) and discuss possible causes. (c) Fit three trends (linear, exponential, quadratic). (d) Which trend model is best, and why? If none is satisfactory, explain. (e) Make a forecast for 2004 by using a trend model of your choice or a judgment forecast.

Reference no: EM13127797

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