Consider the Following Time Series Data A Construct a Time Series Plot

question 15

Essay

Consider the following time series data: $$\begin{array} { | c | c | } \hline \boldsymbol { t } & \boldsymbol { y } \boldsymbol { t } \\\hline 1 & 0.345 \\\hline 2 & 0.366 \\\hline 3 & 0.398 \\\hline 4 & 0.356 \\\hline 5 & 0.456 \\\hline 6 & 0.478 \\\hline 7 & 0.543 \\\hline 8 & 0.596 \\\hline 9 & 0.634 \\\hline 10 & 0.698 \\\hline\end{array}$$
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 = 11?

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Definitions:

Intergenerational Group

A group composed of members from different generations, enabling the exchange of knowledge, values, and cultural practices across ages.

Advocates

Individuals who actively support or defend a cause or policy, often on behalf of another person or group.

Helper-therapy Principle

The helper-therapy principle suggests that individuals who assist others in a therapeutic context can also benefit themselves, improving their own well-being through the process of helping.

Group Leader

Someone appointed or emerging within a group to steer its activities and decision-making processes toward collective goals.