Consider the following time series Quarter Year 1 Year 2 Year 3 63 42 52 61 54 82 73 (a) Construct a time series plot. 90 80 8: 8838 8 8: 88:8 8 Time Series Value Time Series Value Time Series Value Time Series Value 20 20 10 10 10 O- O 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 Year 1 Year 2 Year 3 Year 1 Year 2 Year 3 Year 1 Year 2. Year 3 Year 1 Year 2 Year 3 Year/Quarter DO Year/Quarter Year/Quarter Year/Quarter What type of pattern exists in the data? O The time series plot shows a trend pattern, but there is also a seasonal pattern In the data. The time series plot shows a horizontal pattern, but there is also a seasonal pattern in the data. The time series plot shows a horizontal pattern with no seasonal pattern present. The time series plot shows a trend pattern with no seasonal pattern present. (b) Use the following dummy variables to develop an estimated regression equation to account for seasonal effects in the data: x, = 1 if quarter 1, 0 otherwise; X2 - 1 if quarter 2, 0 otherwise; x3 = 1 if quarter 3, 0 otherwise. (c) Compute the quarterly forecasts for next year. quarter 1 forecast quarter 2 forecast quarter 3 forecast quarter 4 forecast