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Price (000) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 182

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Price (000) 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 182 169.4 168 177.8 180.6 187.6 196 210 207.2 223.86 227.64 24528 261.94 265.3 311.22 330.82 359.8 339.5 344,96 306.88 291.62 314.58 The data show median home prices for the home sales. a) b) c) Construct a time series plot. Is there any pattern you observe? Explain. Do you think that forecasting methods are appropriate for this time series? Why? Explain. Assume that you are forecasting the median house price for the year 2024, how much of the past data would you use? Why? Explain

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