Below Are Some Values of a Time Series Consisting of 26

question 24

Multiple Choice

Below are some values of a time series consisting of 26 time periods. $\begin{array}{ll}\text { Time Period } & \text { Time Series Value } \\1 & 37 \\2 & 48 \\3 & 50 \\4 & 63\\.\\.\\.\\23 & 105 \\24 & 107 \\25 & 112 \\26 & 114\end{array}$ The estimated regression equation for these data is Y_t = 16.23 + .52Yt_-1 + .37Yt-₂
The forecasted value for time period 27 is _____.

• A) 53.23
• B) 109.5
• C) 116.65
• D) 116.95

---

Definitions:

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his works "The Wealth of Nations," which laid the foundations of classical free-market economic theory.

European Colonization

The process by which European powers occupied and controlled lands outside their continent, starting in the late 15th century, often resulting in significant cultural and economic changes.

"Discovery"

Often refers to the European "discovery" of lands outside of Europe, although these lands were already inhabited, marking the beginning of colonization.

Andes Mountain Chain

A continuous range of high mountains along the western coast of South America, extending over 7,000 km and including many of Earth’s highest peaks.