Construct a scatterplot and identify the mathematical model that best fits the given data. Assume that the model is to be used only for the scope of the given data, and consider only linear, polynomial (degree 2) logarithmic, exponential, and power models.
Stock Market listed below in order by row are the annual high values of the Dow Jones Industrial Average for each year beginning with 1980. What is the best predicted value for the year 2006? Given that the actual high value in 2006 was 12,464, how good was the predicted value? What does the pattern suggest about the stock market for investment purposes?
1000 1024 1071 1287 1553 1956 2722 2184 2791 3000 3169 3413 3794 3978 5216 6561 8259 9374 11,568 11,401 11,350 10,454 10,855 10,941.