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The yearly sales (in millions of dollars) of an automobile manufacturing company during the period 2000-2011 are given below. Year Sales ($millions) y 2000 470

The yearly sales (in millions of dollars) of an automobile manufacturing company during the period 2000-2011 are given below.

Year Sales ($millions) y
2000 470
2001 485
2002 499
2003 515
2004 532
2005 532
2006 556
2007 576
2008 583
2009 587
2010 601
2011 605

a. Construct a time series plot. What type of pattern exists in the data?

b. Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series.

c. What is the sales forecast (in millions of dollars) for the year 2012?

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