Let us start by plotting the graph of years (x-values) and imports (y-values).
From the graph above, we can conclude that the trend appears linear. I started the year by replacing 1992 by 2yrs, 1994 by 4yrs, etc.
Therefore, the formula for the linear regression line is,
where,
Therefore, the linear regression line is
Now let us get the year import will exceed 12,000 by substituting the values of y to be 12,000 in the equation above.
Hence, the year in which the import will exceed 12,000 will be in the year 2017.
Finally, from the graph we find the value of r to be 0.9848.