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?

Question

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?

Quizplus · Accepted Answer

The Answer of 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?

Consider the Following Time Series A Construct a Time Series Plot