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Please answer the following forecasting question using the time series data(10 years) given for the following data using Rstudio software. Data 3044 3321 3723 4182

Please answer the following forecasting question using the time series data(10 years) given for the following data using "Rstudio" software.

Data

3044

3321

3723

4182

5050

6112

6701

6561

5508

5661

5479

5245

4134

4264

4636

5192

6040

6930

7349

7417

6697

7124

7013

6992

5666

6033

6458

6718

6927

8084

8450

8026

7346

7550

6919

6749

5706

6181

6661

7115

7958

8998

9519

9233

8314

8799

8265

8134

7340

7681

8273

8805

9668

10319

10857

10590

9590

9915

10028

9549

8632

8897

9206

10048

10556

11318

11749

11237

10566

10919

10956

10630

9692

9784

10244

10577

11170

12012

12503

12048

11303

11525

11497

11399

11562

11877

12201

12706

12936

13967

14120

14052

13091

13316

13197

13038

12108

12205

12425

12855

13013

13707

14279

13414

13183

12928

12390

12247

10985

11492

11656

12183

12930

13447

13910

13570

13296

13213

12418

12137

  1. Apply time series regression.
  2. Report the output of regression analysis.
  3. Use residual plots to check the assumptions of the regression model.
  4. Forecast the next 12 periods.
  5. Construct the time series plot including forecasts.
  6. Apply Box-Jenkins methodology (assume that the time series data is stationary in its variance) and fit an appropriate ARIMA model.
  7. Write the ARIMA model using the backshift notation.
  8. Write the forecasting equation of the ARIMA model.
  9. Plot ACF and PACF of the residuals from the fitted model.
  10. Report the output for the coefficient estimates and error measures.
  11. Forecast the next 12 periods.
  12. Construct the time series plot including forecasts.

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