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Use the 12-Year Gasoline Time series database on "Excel Databases.xls". Based on the chosen model produced in the previous question, predict the US Gasoline Price (cents) for June, 2008. Round your answer to 1 decimal place, do not include units or $ sign in your answer.

Use the 12-Year Gasoline Time series database on "Excel Databases.xls". Based on the chosen model produced in the previous question, predict the US Gasoline Price (cents) for June, 2008. Round your answer to 1 decimal place, do not include units or $ sign in your answer.

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 40E
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Month and Year  U.S. Gasoline Prices (in cents) OPEC Spot Price:           $ per barrel U.S. Finished Motor Gasoline Production  (1000 Barrels per Day) U.S. Natural Gas Wellhead Price       ($/1000 Cu.Ft.)
Jan-97 128.3 21.52 7315 3.4
Feb-97 127.6 18.57 7330 2.49
Mar-97 125.1 18.63 7079 1.79
Apr-97 124.4 16.64 7737 1.81
May-97 124.5 18.31 7998 2
Jun-97 124.2 16.69 8008 2.08
Jul-97 122 17.16 7959 2
Aug-97 126.8 16.79 8207 2.08
Sep-97 127.6 17.34 8134 2.33
Oct-97 124.2 18.18 7881 2.68
Nov-97 121.6 17.57 7627 2.92
Dec-97 117.7 15.65 8331 2.28
Jan-98 113.2 13.48 7545 1.96
Feb-98 109.6 11.66 7508 1.96
Mar-98 106.4 11.98 7975 2.06
Apr-98 107.7 11.78 8083 2.16
May-98 110.5 11.92 8216 2.04
Jun-98 110.3 10.73 8368 1.91
Jul-98 109.4 11.55 8272 2.09
Aug-98 106.5 11.54 8403 1.82
Sep-98 104.9 12.56 8026 1.7
Oct-98 105.9 12.45 7947 1.86
Nov-98 103.6 11.09 8181 1.94
Dec-98 98.7 9.56 8306 1.95
Jan-99 98 10.46 7792 1.85
Feb-99 96.2 10.07 7866 1.77
Mar-99 102.2 13.24 7676 1.7
Apr-99 117.1 15.73 8327 1.9
May-99 117.1 14.89 8401 2.17
Jun-99 115.4 15.68 8165 2.14
Jul-99 119.7 18.74 8156 2.2
Aug-99 126 19.95 8384 2.51
Sep-99 129.5 22.33 8493 2.62
Oct-99 128.5 21.6 8154 2.52
Nov-99 129.2 24.51 8254 2.68
Dec-99 131.3 24.32 8388 2.24
Jan-00 132.9 25.54 7836 2.6
Feb-00 141.5 25.94 7830 2.73
Mar-00 155.6 24.73 8256 2.66
Apr-00 150.6 23.63 8214 2.86
May-00 152.6 27.67 8434 3.04
Jun-00 166.6 29.11 8325 3.77
Jul-00 159.1 25.22 8556 3.84
Aug-00 150.6 28.4 8295 3.73
Sep-00 158.8 28.96 8424 4.26
Oct-00 157.1 30.66 8249 4.58
Nov-00 155.7 30.28 8183 4.4
Dec-00 148.3 20.89 8505 5.77
Jan-01 148.7 24.63 7789 6.82
Feb-01 149 24.78 7974 5.08
Mar-01 145 23.38 7955 4.37
Apr-01 159.1 25.02 8476 4.52
May-01 173.8 26.87 8567 4.36
Jun-01 165.8 24.34 8997 3.79
Jul-01 146.6 23.42 8266 3.35
Aug-01 146.1 24.89 8050 3.33
Sep-01 155.7 21.47 8455 2.93
Oct-01 135.7 19.21 8422 2.78
Nov-01 121.2 17.29 8535 3.41
Dec-01 112.7 18.57 8292 3.42
Jan-02 114.8 17.56 8149 2.5
Feb-02 115.5 18.74 7950 2.19
Mar-02 128.9 23.38 8371 2.4
Apr-02 143.9 24.18 8497 2.94
May-02 143.4 22.99 8440 2.94
Jun-02 142.4 23.68 8528 2.96
Jul-02 143.8 24.2 8550 2.92
Aug-02 143.8 25.83 8382 2.76
Sep-02 144.1 27.55 8461 2.97
Oct-02 148.6 25.69 8515 3.24
Nov-02 146.1 23.32 8647 3.59
Dec-02 142.9 28.5 8796 3.96
Jan-03 150 29.18 7521 4.43
Feb-03 165.5 31.43 7978 5.05
Mar-03 173.4 24.21 8004 6.96
Apr-03 163.3 23.55 8430 4.47
May-03 153.9 24.2 8656 4.77
Jun-03 153.3 25.04 8657 5.41
Jul-03 155.4 26.64 8524 5.08
Aug-03 166.1 28.26 8846 4.46
Sep-03 172.1 24.88 8749 4.59
Oct-03 160.6 27.14 8526 4.32
Nov-03 155.5 27.6 8702 4.26
Dec-03 152.2 28.32 8667 4.76
Jan-04 161.4 28.84 8148 5.21
Feb-04 169 29.21 8456 5.02
Mar-04 177.8 31.28 8530 5.12
Apr-04 183.9 31.91 8793 5.03
May-04 202.3 35.28 8817 5.4
Jun-04 201.3 33.05 8798 5.82
Jul-04 195.4 36.6 8832 5.62
Aug-04 192 39.67 8879 5.52
Sep-04 191.2 39.85 8187 5.06
Oct-04 204.2 44.72 8779 5.43
Nov-04 202.3 38.26 8857 6.21
Dec-04 188.7 33.29 9013 6.01
Jan-05 187.5 41.89 8465 5.8
Feb-05 195.3 44.04 8485 5.73
Mar-05 212 49.6 8198 5.95
Apr-05 228.5 48.58 8752 6.57
May-05 220.5 44.25 9128 6.25
Jun-05 219.8 53.08 9136 6.09
Jul-05 233.3 53.59 8661 6.71
Aug-05 252.9 59.95 8799 6.48
Sep-05 295.1 58.83 7507 8.95
Oct-05 276.5 53.45 8734 10.33
Nov-05 230.3 50.29 8966 9.89
Dec-05 222.9 52.22 8937 9.08
Jan-06 236 60.9 8664 8.02
Feb-06 232.6 55.76 8350 6.86
Mar-06 246.8 59.91 8134 6.44
Apr-06 278.7 67.59 8595 6.38
May-06 295.3 64.12 9208 6.24
Jun-06 293 65.7 9207 5.78
Jul-06 302.5 68.71 9037 5.92
Aug-06 299.9 67.48 9141 6.56
Sep-06 260.6 56.07 8902 6.06
Oct-06 229.3 55.45 8763 5.09
Nov-06 227.5 54.73 8856 6.72
Dec-06 235.9 57.33 9326 6.76
Jan-07 228.9 50.17 9087 5.92
Feb-07 232.3 54.4 8668 6.66
Mar-07 260.9 61.7 8773 6.56
Apr-07 289.1 64.35 8777 6.84
May-07 318.7 67.39 9258 6.98
Jun-07 310.2 68.02 9402 6.86
Jul-07 301.1 73.74 9429 6.19
Aug-07 283.4 68.83 9157 5.9
Sep-07 284.9 76.52 8698 5.61
Oct-07 285.3 81.62 8917 6.25
Nov-07 312.8 90.74 9092 6.37
Dec-07 307 90.99 9070 6.53
Jan-08 309.5 85.4 8887 6.99
Feb-08 307.8 95.4 9042 7.55
Mar-08 329.3 99.45 8608 8.29
Apr-08 350.7 110.96 8964 8.94
May-08 381.5 126.43 9113 9.81
QUESTION 7 Use the 12-Year Gasoline Time series database on "Excel Databases.xls". Based on the chosen model produced in the previous question, predict the US Gasoline Price (cents) for June, 2008. Round your answer to 1 decimal place, do not include units or $ sign in your answer.
Transcribed Image Text:QUESTION 7 Use the 12-Year Gasoline Time series database on "Excel Databases.xls". Based on the chosen model produced in the previous question, predict the US Gasoline Price (cents) for June, 2008. Round your answer to 1 decimal place, do not include units or $ sign in your answer.
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