Consider the following time series: t 1 2 3 4 5 6 7 yt 120 110 100

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Consider the following time series: t 1 2 3 4 5 6 7 yt 120 110 100 96 94 92 88

A. Construct a time series plot. What type of pattern exists in the data?

B. Use excel solver or lingo to find the parameters for the line that minimizes MSE this time series.

C. What is the forecast for t = 8? Mean squared error (MSE) the average of the sum of squared forecast errors.

Related Book For answer-question

An introduction to management science quantitative approaches to decision making

ISBN: 978-1111532222

13th edition

Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam

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Posted Date: Jul 11, 2018 08:02 AM

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Consider the following time series: t 1 2 3 4 5 6 7 yt 120 110 100

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An introduction to management science quantitative approaches to decision making

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