Question: 6. Consider the data in the Excel file Consumer Price Index . a. Use simple linear regression to forecast the data. What would be the

6. Consider the data in the Excel file Consumer Price Index .

a. Use simple linear regression to forecast the data.

What would be the forecasts for the next two months?

b. Are the data autocorrelated? Construct first- and second-order autoregressive models and compare the results to part (a).

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