Consider the Following Time Series A Construct a Time Series Plot

question 14

Essay

Consider the following time series. $$\begin{array} { | c | c | } \hline \boldsymbol { t } & \boldsymbol { y } \boldsymbol { t } \\\hline 1 & 1,234 \\\hline 2 & 1,201 \\\hline 3 & 1,103 \\\hline 4 & 987 \\\hline 5 & 945 \\\hline 6 & 891 \\\hline 7 & 817 \\\hline 8 & 734 \\\hline\end{array}$$
a. Construct a time series plot. What type of pattern exists in the data?
b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.
c. What is the forecast for t = 9?

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