This problem looks at the data from the lumber industry on the approximate number of board feet of lumber per tree in a forest given the age of the tree.
Using Excel, we plot the data on a chart to see the type of curve represented.
Looking at this chart, the data seems to be quadratic in nature. Using the table below, we were able to arrive at the equation .
We can plot the original data with the prediction curve.
Now using the prediction curve, we can estimate how many 100s of board feet we should expect with any age of tree.
|Age of Tree||Estimated Board Feet|