Choose an appropriate forecasting technique for the data in the Excel files. Choose from the provided list, Prime Rate, and find the best forecasting model. Explain how you would use the model to forecast and how far into the future it would be appropriate to forecast.

Data Set Prime Rate (Week 6)-6 * 6 Share File Edit View Insert Format Data Tools Extensions Help 5 @ 5 5 100% $ % .00 123 Arial 12 + B A 31 A1 fx Bank Prime Loan Rate B C D E F G H I J K L M N P Q R S T U V W 1 Bank Prime Loan Rate N 3 Month Percent Jan-1971 6.29 Feb-1971 5.88 Mar-1971 5.44 Apr-1971 5.28 May-1971 5.46 Jun-1971 5.50 10 Jul-1971 5.91 11 Aug-1971 6.00 12 Sep-1971 6.00 + 13 Oct-1971 5.90 14 Nov-1971 5.53 15 Dec-1971 5.49 16 Jan-1972 5.18 Feb-1972 4.75 18 Mar-1972 4.75 19 Apr-1972 4.97 20 May-1972 5.00 21 Jun-1972 5.04 22 Jul-1972 5.25 23 Aug-1972 5.27 24 Sep-1972 5.50 25 Oct-1972 5.73 26 Nov-1972 5.75 27 Dec-1972 5.79 28 Jan-1973 6.00 29 Feb-1973 6.02 30 Mar-1973 6.30 31 Apr-1973 6.61 32 May-1973 7.01 Sheet1 - + +