Freddie Mac is an organization that was formed by the U.S. Congress in 1970 to help maintain mortgage interest rates at a fairly stable level. The data in the file Mortgage Rates show the 30-year fixed mortgage interest rates on a monthly basis from January 2002 through December 2015 (source: www.freddiemac. com). Use Excel 2016 to construct a model for forecasting the monthly interest rates for 2016.

Describe the model using the output from the Excel 2016 forecasting tools.