Question: 18. Consider the following time series data. t 1 2 3 4 5 6 7 yt 10 9 7 8 6 4 4 a. Construct

18. Consider the following time series data.

t 1 2 3 4 5 6 7 yt 10 9 7 8 6 4 4

a. 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?

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