Solved - It Appears That The Imports of Carbon Black Have Been I.

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It appears that the imports of carbon black have been increasing by about 10% annually.
Imports of Carbon Black (thousands Imports of Carbon Black (thousands

Year Year
of tons) of tons) Snap a photo from your
phone to post a questio
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2006 92.0 2010 135.0 download link
2007 101.0 2011 149.0

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2008 112.0 2012 163.0 the app. Standard messaging rates may app
2009 124.0 2013 180.0

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a. Determine the logarithmic trend equation.
b. By what percent did imports increase, on the average, during the period? Add a Ad
textbook text
Statistical
c. Estimate imports for the year 2016. Techniques...
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Step-by-step solution
Step 1 of 4
a.
A log time series is represented by the equation
Here
• log(y) is the log base 10 of the dependent variable
• t is the time period, this is not logged
• log(b) is the slope, 1 – b represents the average percent change
• log(a) is the y intercept (when t = 0).
Note, a b = 1 represents no change from prior year, b < 1 signifies a decrease, and b > 1 is an
increase. However, b cannot be less than 0.
The data is given below
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Chapter 18, Problem 8E 2 Bookmarks Show all steps: ON
Excel’s graphing tools can be used to graph the data and produce a least squares trendline.
To graph this in Excel, select insert scatter plot.
• Horizontal category select the X variables: code
• Legend series add the Y variables: LogImports
Follow the steps to add a trendline. The trendline option used by Excel is the least square
method:
• A linear trend-line can be added by clicking on a data point and selecting add trendline
• To get the equation check “display equation”
This produces the following plot.
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The least square equation shown is “y = 0.0415x – 1.9233”. However, the y on the Excel is
actually LogImports, so it can be represented as
Comment
Step 2 of 4
b.
The equation found is
This means log(b) is 0.0415. The percent increase is represented by b which can be found as
below
This means there on average there is a 10% increase in imports.
Comment
Step 3 of 4
c.
The least square equation found is
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11 for t to estimate the next log(y) variable at year 2016
Comments (1)
Step 4 of 4
The estimated log(y) variable is 2.38, use this as the power of 10 to find the y variable
The estimated y, imports in 1000s of tons is 239.97.
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12/6/21, 8:48 PM Solved: It appears that the imports of carbon black have been i... | Chegg.

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Find solutions for your homework

Statistical Techniques in Business and Economics Post a question

Imports of Carbon Black (thousands Imports of Carbon Black (thousands

2007 101.0 2011 149.0

By providing your phone number, you agree

2009 124.0 2013 180.0

View all solutions

A log time series is represented by the equation

• log(y) is the log base 10 of the dependent variable

• t is the time period, this is not logged

• log(b) is the slope, 1 – b represents the average percent change

• log(a) is the y intercept (when t = 0).

The data is given below

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Chapter 18, Problem 8E 2 Bookmarks Show all steps: ON

To graph this in Excel, select insert scatter plot.

• Horizontal category select the X variables: code

• Legend series add the Y variables: LogImports

• To get the equation check “display equation”

This produces the following plot.

The equation found is

This means there on average there is a 10% increase in imports.

The least square equation found is

Chapter 18, Problem 8E 2 Bookmarks Show all steps: ON

The estimated y, imports in 1000s of tons is 239.97.

Was this solution helpful? 0 0

Recommended solutions for you in Chapter 18

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Chapter 18, Problem 8E 2 Bookmarks Show all steps: ON

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