A construct time series plot what type of pattern exists in


Consider the following time series:

 t    1           2          3           4        5        6       7

Yt   120    110      100       96     94      92     88

a. Construct time series plot. What type of pattern exists in the data?

b. Use simple linear regression analysis to find the parameters for the line minimizes MSE for this time series.

c. What is the forecast for t=8?

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