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Choose an appropriate forecasting technique for the data in the Excel files, choose from the provided list, Prime Rate(Excel 9.21) and find the best forecasting

Choose an appropriate forecasting technique for the data in the Excel files, choose from the provided list, Prime Rate(Excel 9.21) 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.

Please provide step by step direction as to running the model in Excel.

Bank Prime Loan Rate
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
Jul-1971 5.91
Aug-1971 6.00
Sep-1971 6.00
Oct-1971 5.90
Nov-1971 5.53
Dec-1971 5.49
Jan-1972 5.18
Feb-1972 4.75
Mar-1972 4.75
Apr-1972 4.97
May-1972 5.00
Jun-1972 5.04
Jul-1972 5.25
Aug-1972 5.27
Sep-1972 5.50
Oct-1972 5.73
Nov-1972 5.75
Dec-1972 5.79
Jan-1973 6.00
Feb-1973 6.02
Mar-1973 6.30
Apr-1973 6.61
May-1973 7.01
Jun-1973 7.49
Jul-1973 8.30
Aug-1973 9.23
Sep-1973 9.86
Oct-1973 9.94
Nov-1973 9.75
Dec-1973 9.75
Jan-1974 9.73
Feb-1974 9.21
Mar-1974 8.85
Apr-1974 10.02
May-1974 11.25
Jun-1974 11.54
Jul-1974 11.97
Aug-1974 12.00
Sep-1974 12.00
Oct-1974 11.68
Nov-1974 10.83
Dec-1974 10.50
Jan-1975 10.05
Feb-1975 8.96
Mar-1975 7.93
Apr-1975 7.50
May-1975 7.40
Jun-1975 7.07
Jul-1975 7.15
Aug-1975 7.66
Sep-1975 7.88
Oct-1975 7.96
Nov-1975 7.53
Dec-1975 7.26
Jan-1976 7.00
Feb-1976 6.75
Mar-1976 6.75
Apr-1976 6.75
May-1976 6.75
Jun-1976 7.20
Jul-1976 7.25
Aug-1976 7.01
Sep-1976 7.00
Oct-1976 6.77
Nov-1976 6.50
Dec-1976 6.35
Jan-1977 6.25
Feb-1977 6.25
Mar-1977 6.25
Apr-1977 6.25
May-1977 6.41
Jun-1977 6.75
Jul-1977 6.75
Aug-1977 6.83
Sep-1977 7.13
Oct-1977 7.52
Nov-1977 7.75
Dec-1977 7.75
Jan-1978 7.93
Feb-1978 8.00
Mar-1978 8.00
Apr-1978 8.00
May-1978 8.27
Jun-1978 8.63
Jul-1978 9.00
Aug-1978 9.01
Sep-1978 9.41
Oct-1978 9.94
Nov-1978 10.94
Dec-1978 11.55
Jan-1979 11.75
Feb-1979 11.75
Mar-1979 11.75
Apr-1979 11.75
May-1979 11.75
Jun-1979 11.65
Jul-1979 11.54
Aug-1979 11.91
Sep-1979 12.90
Oct-1979 14.39
Nov-1979 15.55
Dec-1979 15.30
Jan-1980 15.25
Feb-1980 15.63
Mar-1980 18.31
Apr-1980 19.77
May-1980 16.57
Jun-1980 12.63
Jul-1980 11.48
Aug-1980 11.12
Sep-1980 12.23
Oct-1980 13.79
Nov-1980 16.06
Dec-1980 20.35
Jan-1981 20.16
Feb-1981 19.43
Mar-1981 18.05
Apr-1981 17.15
May-1981 19.61
Jun-1981 20.03
Jul-1981 20.39
Aug-1981 20.50
Sep-1981 20.08
Oct-1981 18.45
Nov-1981 16.84
Dec-1981 15.75
Jan-1982 15.75
Feb-1982 16.56
Mar-1982 16.50
Apr-1982 16.50
May-1982 16.50
Jun-1982 16.50
Jul-1982 16.26
Aug-1982 14.39
Sep-1982 13.50
Oct-1982 12.52
Nov-1982 11.85
Dec-1982 11.50
Jan-1983 11.16
Feb-1983 10.98
Mar-1983 10.50
Apr-1983 10.50
May-1983 10.50
Jun-1983 10.50
Jul-1983 10.50
Aug-1983 10.89
Sep-1983 11.00
Oct-1983 11.00
Nov-1983 11.00
Dec-1983 11.00
Jan-1984 11.00
Feb-1984 11.00
Mar-1984 11.21
Apr-1984 11.93
May-1984 12.39
Jun-1984 12.60
Jul-1984 13.00
Aug-1984 13.00
Sep-1984 12.97
Oct-1984 12.58
Nov-1984 11.77
Dec-1984 11.06
Jan-1985 10.61
Feb-1985 10.50
Mar-1985 10.50
Apr-1985 10.50
May-1985 10.31
Jun-1985 9.78
Jul-1985 9.50
Aug-1985 9.50
Sep-1985 9.50
Oct-1985 9.50
Nov-1985 9.50
Dec-1985 9.50
Jan-1986 9.50
Feb-1986 9.50
Mar-1986 9.10
Apr-1986 8.83
May-1986 8.50
Jun-1986 8.50
Jul-1986 8.16
Aug-1986 7.90
Sep-1986 7.50
Oct-1986 7.50
Nov-1986 7.50
Dec-1986 7.50
Jan-1987 7.50
Feb-1987 7.50
Mar-1987 7.50
Apr-1987 7.75
May-1987 8.14
Jun-1987 8.25
Jul-1987 8.25
Aug-1987 8.25
Sep-1987 8.70
Oct-1987 9.07
Nov-1987 8.78
Dec-1987 8.75
Jan-1988 8.75
Feb-1988 8.51
Mar-1988 8.50
Apr-1988 8.50
May-1988 8.84
Jun-1988 9.00
Jul-1988 9.29
Aug-1988 9.84
Sep-1988 10.00
Oct-1988 10.00
Nov-1988 10.05
Dec-1988 10.50
Jan-1989 10.50
Feb-1989 10.93
Mar-1989 11.50
Apr-1989 11.50
May-1989 11.50
Jun-1989 11.07
Jul-1989 10.98
Aug-1989 10.50
Sep-1989 10.50
Oct-1989 10.50
Nov-1989 10.50
Dec-1989 10.50
Jan-1990 10.11
Feb-1990 10.00
Mar-1990 10.00
Apr-1990 10.00
May-1990 10.00
Jun-1990 10.00
Jul-1990 10.00
Aug-1990 10.00
Sep-1990 10.00
Oct-1990 10.00
Nov-1990 10.00
Dec-1990 10.00
Jan-1991 9.52
Feb-1991 9.05
Mar-1991 9.00
Apr-1991 9.00
May-1991 8.50
Jun-1991 8.50
Jul-1991 8.50
Aug-1991 8.50
Sep-1991 8.20
Oct-1991 8.00
Nov-1991 7.58
Dec-1991 7.21
Jan-1992 6.50
Feb-1992 6.50
Mar-1992 6.50
Apr-1992 6.50
May-1992 6.50
Jun-1992 6.50
Jul-1992 6.02
Aug-1992 6.00
Sep-1992 6.00
Oct-1992 6.00
Nov-1992 6.00
Dec-1992 6.00
Jan-1993 6.00
Feb-1993 6.00
Mar-1993 6.00
Apr-1993 6.00
May-1993 6.00
Jun-1993 6.00
Jul-1993 6.00
Aug-1993 6.00
Sep-1993 6.00
Oct-1993 6.00
Nov-1993 6.00
Dec-1993 6.00
Jan-1994 6.00
Feb-1994 6.00
Mar-1994 6.06
Apr-1994 6.45
May-1994 6.99
Jun-1994 7.25
Jul-1994 7.25
Aug-1994 7.51
Sep-1994 7.75
Oct-1994 7.75
Nov-1994 8.15
Dec-1994 8.50
Jan-1995 8.50
Feb-1995 9.00
Mar-1995 9.00
Apr-1995 9.00
May-1995 9.00
Jun-1995 9.00
Jul-1995 8.80
Aug-1995 8.75
Sep-1995 8.75
Oct-1995 8.75
Nov-1995 8.75
Dec-1995 8.65
Jan-1996 8.50
Feb-1996 8.25
Mar-1996 8.25
Apr-1996 8.25
May-1996 8.25
Jun-1996 8.25
Jul-1996 8.25
Aug-1996 8.25
Sep-1996 8.25
Oct-1996 8.25
Nov-1996 8.25
Dec-1996 8.25
Jan-1997 8.25
Feb-1997 8.25
Mar-1997 8.30
Apr-1997 8.50
May-1997 8.50
Jun-1997 8.50
Jul-1997 8.50
Aug-1997 8.50
Sep-1997 8.50
Oct-1997 8.50
Nov-1997 8.50
Dec-1997 8.50
Jan-1998 8.50
Feb-1998 8.50
Mar-1998 8.50
Apr-1998 8.50
May-1998 8.50
Jun-1998 8.50
Jul-1998 8.50
Aug-1998 8.50
Sep-1998 8.49
Oct-1998 8.12
Nov-1998 7.89
Dec-1998 7.75
Jan-1999 7.75
Feb-1999 7.75
Mar-1999 7.75
Apr-1999 7.75
May-1999 7.75
Jun-1999 7.75
Jul-1999 8.00
Aug-1999 8.06
Sep-1999 8.25
Oct-1999 8.25
Nov-1999 8.37
Dec-1999 8.50
Jan-2000 8.50
Feb-2000 8.73
Mar-2000 8.83
Apr-2000 9.00
May-2000 9.24
Jun-2000 9.50
Jul-2000 9.50
Aug-2000 9.50
Sep-2000 9.50
Oct-2000 9.50
Nov-2000 9.50
Dec-2000 9.50
Jan-2001 9.05
Feb-2001 8.50
Mar-2001 8.32
Apr-2001 7.80
May-2001 7.24
Jun-2001 6.98
Jul-2001 6.75
Aug-2001 6.67
Sep-2001 6.28
Oct-2001 5.53
Nov-2001 5.10
Dec-2001 4.84
Jan-2002 4.75
Feb-2002 4.75
Mar-2002 4.75
Apr-2002 4.75
May-2002 4.75
Jun-2002 4.75
Jul-2002 4.75
Aug-2002 4.75
Sep-2002 4.75
Oct-2002 4.75
Nov-2002 4.35
Dec-2002 4.25
Jan-2003 4.25
Feb-2003 4.25
Mar-2003 4.25
Apr-2003 4.25
May-2003 4.25
Jun-2003 4.22
Jul-2003 4.00
Aug-2003 4.00
Sep-2003 4.00
Oct-2003 4.00
Nov-2003 4.00
Dec-2003 4.00
Jan-2004 4.00
Feb-2004 4.00
Mar-2004 4.00
Apr-2004 4.00
May-2004 4.00
Jun-2004 4.01
Jul-2004 4.25
Aug-2004 4.43
Sep-2004 4.58
Oct-2004 4.75
Nov-2004 4.93
Dec-2004 5.14
Jan-2005 5.25
Feb-2005 5.49
Mar-2005 5.58
Apr-2005 5.75
May-2005 5.98
Jun-2005 6.01
Jul-2005 6.25
Aug-2005 6.44
Sep-2005 6.59
Oct-2005 6.75
Nov-2005 7.00
Dec-2005 7.15
Jan-2006 7.26
Feb-2006 7.50
Mar-2006 7.53
Apr-2006 7.75
May-2006 7.93
Jun-2006 8.02
Jul-2006 8.25
Aug-2006 8.25
Sep-2006 8.25
Oct-2006 8.25
Nov-2006 8.25
Dec-2006 8.25
Jan-2007 8.25
Feb-2007 8.25
Mar-2007 8.25
Apr-2007 8.25
May-2007 8.25
Jun-2007 8.25
Jul-2007 8.25
Aug-2007 8.25
Sep-2007 8.03
Oct-2007 7.74
Nov-2007 7.50
Dec-2007 7.33
Jan-2008 6.98
Feb-2008 6.00
Mar-2008 5.66
Apr-2008 5.24
May-2008 5.00
Jun-2008 5.00
Jul-2008 5.00
Aug-2008 5.00
Sep-2008 5.00
Oct-2008 4.56
Nov-2008 4.00
Dec-2008 3.61
Jan-2009 3.25
Feb-2009 3.25
Mar-2009 3.25
Apr-2009 3.25
May-2009 3.25
Jun-2009 3.25
Jul-2009 3.25
Aug-2009 3.25
Sep-2009 3.25
Oct-2009 3.25
Nov-2009 3.25
Dec-2009 3.25
Jan-2010 3.25
Feb-2010 3.25
Mar-2010 3.25
Apr-2010 3.25
May-2010 3.25
Jun-2010 3.25
Jul-2010 3.25
Aug-2010 3.25
Sep-2010 3.25

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