Question: (a) Choose the correct time series plot. (i) 'ii) (iii) iv) What type of pattern exists in the data? The time series plot shows a

(a) Choose the correct time series plot. (i) 'ii) (iii) iv) What type of pattern exists in the data? The time series plot shows a trend with seasonality. (b) Use simple linear regression analysis to

(a) Choose the correct time series plot. (i) 'ii) (iii) iv) What type of pattern exists in the data? The time series plot shows a trend with seasonality. (b) Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. If required, round your answers for the parameters to four decimal places and your answer for the MSE to three decimal places. Do not round your intermediate calculations. y-intercept, b0= Slope, b1= MSE = (c) What is the average cost increase that the firm has been realizing per year? If required, round your answer to two decimal places. $ (d) Compute an estimate of the cost/unit for next year. If required, round your answer to two decimal places. Do not round your intermediate calculations. $ product over the past eight years

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