The file P12_13.xlsx contains quarterly data on GDP. a. Look at a time series plot of GDP.

Question:

The file P12_13.xlsx contains quarterly data on GDP.
a. Look at a time series plot of GDP. Does it suggest a linear relationship; an exponential relationship?
b. Use regression to estimate a linear relationship between GDP and Time (starting with 1 for Q1-1966). Interpret the associated constant term and the slope term. Would you say that the fit is good?