A farmer's marketing cooperative recorded the volume of wheat harvested by its members from XXXXXXXXXX. The cooperative is interested in detecting the long-term trend of the amount of wheat harvested....


A farmer's marketing cooperative recorded the volume of wheat harvested by its members from 1991-2004.  The cooperative is interested in detecting the long-term trend of the amount of wheat harvested.  The data collected is shown in the table.



                                       Wheat Harvested by Coop. Member


            Year       Time            (y, in thousands of bushels)


            1991          1                               75


            1992          2                               78


            1993          3                               82


            1994          4                               82


            1995          5                               84


            1996          6                               85


            1997          7                               87


            1998          8                               91


            1999          9                               92


            2000         10                              92


            2001         11                              93


            2002         12                              96


            2003         13                            101


            2004         14                            102



Find the least squares prediction equation for the model. Use excel to conduct data analysis. Provide detailed interpretation of the results.




Jun 10, 2022
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