1 3 4 Y, I 6. 11 9 14 15 a. Choose the correct time series plot. (i) 16 (ii) 16 14 14 12 12 10 10 8 6 4. 2 3 4 1 Time Period (t) Time Period (t) Time Period (t) Time Period (t) (iii) (iv) 16 16 14 14 12 12 10 10 8 4. 1. Time Perlod (t) Time Period (t) Time Series Value Time Series Value Time Series Value Time Series Value

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
Section: Chapter Questions
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Question
Consider the following time series.
1
2
4
Y,
6
11
9
14
15
a. Choose the correct time series plot.
(i)
16
(ii)
16
14
14
12
12
10
10
8
6.
6.
4
4
2
1
Time Period (t)
Time Period (t)
Time Period ()
Time Period (t)
(iii)
16
(iv)
16
14
14
12
12
10
10
8
1
Time Period (t)
Time Period (t)
Time Series Value
Time Series Value
Time Series Value
Time Series Value
Transcribed Image Text:Consider the following time series. 1 2 4 Y, 6 11 9 14 15 a. Choose the correct time series plot. (i) 16 (ii) 16 14 14 12 12 10 10 8 6. 6. 4 4 2 1 Time Period (t) Time Period (t) Time Period () Time Period (t) (iii) 16 (iv) 16 14 14 12 12 10 10 8 1 Time Period (t) Time Period (t) Time Series Value Time Series Value Time Series Value Time Series Value
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. If required, round your answers to two decimal pla
y-intercept, bo =
Slope, bi =
MSE =
c. What is the forecast for t = 6? If required, round your answer to one decimal place.
Transcribed Image Text: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. If required, round your answers to two decimal pla y-intercept, bo = Slope, bi = MSE = c. What is the forecast for t = 6? If required, round your answer to one decimal place.
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