BUS 660 QUANTITATIVE METHOD

Problem 6-19 Consider the following time series. t= 1 2 3 4 5 6 7 Yt= 120 110 100 96 94 92 88 1. What type of pattern exists in the data? 2. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. Do not round your interim computations and round your final answers to three decimal places. For subtractive or negative numbers use a minus sign. (Example: -300) y-intercept, b0 = Slope, b1 = MSE = 3. What is the forecast for t = 8? If required, round your answer to three decimal places