Answer to Question #74412 in Microeconomics for zulfiqar
The winning heights (meters) for the Olympic pole vault for 1948-1996 were analyzed using the two trend-projection models. The estimated equations were
PV, = 4.295 + 0.142t
PV, = 4.289(1. 033)t
where PVt is the forecasted winning height.
a) on average, how much has the winning height increased from one Olympics to the next ? What has been the percentage increase?
b) Forecast the winning height for 1976 to 1996.
c) The winning heights for 1979 and 1996 were 5.45 and 5.90 meters, respectively. Is there an explanation for the large differences between the forecasted and the actual values for 1996?
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