The Seneca Children's Fund (SCF) is a local charity that runs a summer camp for disadvantaged children. The fund's board of directors has been working very hard in recent years to decrease the amount of overhead expenses, a major factor in how charities are rated by independent agencies. The following data show the percentage of the money SCF has raised that was spent on administrative and fund-raising expenses for a seven-year period. Period (t) Expense (%} 1 14.0 2 12.1 3 10.4 4 10.4 5 11.6 6 10.1 7 8.4 (b) Develop the linear trend equation for this time series to forecast expense percentage. T. = (c) Forecast the percentage of administrative expenses for year 8. % (d) If SCF can maintain their current trend in reducing administrative expenses, during which period will they first achieve a level of 5% or less? Expenses will first reach a level of 5% or less in period