I plugged the information from the given table into excel and calculated a polynomial function that best fits: f(x)=0.0002x^2-0.782x^2+764.59
I plugged 2010 in for x and got $0.79
From where I sit, it is hard for me to figure why it spiked in 2008. There must be more information somewhere. Remembering that the recession hit in 2008, I typed "2008 recession asphalt price," and the first thing that popped up was "The perfect storm that sent liquid asphalt prices through the roof in 2009...." I am guessing that is your answer.
I hope this is accurate and helpful. Good luck!
Feb 9th, 2015
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