Reported below are the amounts spent on advertising ($ millions) by a large firm
ID: 2925024 • Letter: R
Question
Reported below are the amounts spent on advertising ($ millions) by a large firm from 2004 to 2014. Year Amount Year Amount 2004 88.3 2010 132.1 2005 94.1 2011 141.5 2006 102.7 2012 150.7 2007 109.7 2013 157.4 2008 118.6 2014 162.6 2009 125.7 a. Determine the logarithmic trend equation. (Round your answers to 4 decimal places.) Log Picture = + t b. Estimate the advertising expenses for 2015. (Round your answer to 2 decimal places.) The antilog of Picture (2015) = $ c. By what percent per year did advertising expense increase during the period? (Round your answer to 2 decimal places.) percent.
Explanation / Answer
a) ln y^ = -120.799 + 0.062525 *t
b) for t = 2015
ln y^ = 5.190204437
y^ = antilog (5.1902044) = 179.5052467
c) % increase = 6.25 %
Please rate
t y^ ln (y^) 2004 88.3 4.48074 2005 94.1 4.544358 2006 102.7 4.631812 2007 109.7 4.697749 2008 118.6 4.775756 2009 125.7 4.833898 2010 132.1 4.883559 2011 141.5 4.9523 2012 150.7 5.015291 2013 157.4 5.05879 2014 162.6 5.091293