Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson

Exercise 16

The following table contains time series data for regular gasoline prices in the United States for 36 consecutive months:

a. Create a line chart for these time series data. What interpretations can you make about the average price per gallon of conventional regular gasoline over these 36 months
b. Fit a linear trendline to the data. What does the trendline indicate about the price of gasoline over these 36 months