( show steps in excel with screenshots on parts b and c).
consider the following time series data:
t
yt
1
0.345
2
0.366
3
0.398
4
0.356
5
0.456
6
0.478
7
0.543
8
0.596
9
0.634
10
0.698
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?