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1.Consider the following time series.t 1 2 3 4 5 6 7Yt 120 110 100 96 94 92 88a. Construct a time series plot. What type of pattern exists in the data?b. Develop the linear trend equation for this time series.c. What is the forecast for t 8?2. Consider the following time series.t 1 2 3 4 5 6 7Yt 82 60 44 35 30 29 35a. Construct a time series plot. What type of pattern exists in the data?b. Using Minitab or Excel, develop the quadratic trend equation for the time series.c. What is the forecast for t 8?
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