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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

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.

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