Construct a time series plot

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Reference no: EM132832770

Consider the following time series.

Month 1 2 3 4 5 6 7
Value 120 110 100 96 94 92 88

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 = 8?

Reference no: EM132832770

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