Consider the following time series data: t Yt 1 0.345 0.366 3 0.398 4 0.356 5 0.456 0.478 7 0.543 8 0.625 9 0.634 10 0.698 Use simple linear regression analysis to find the parameters for the line that minimizes MSE for this time series. What is the forecast for t= 11? Round your answer to four decimal places. 2. LO

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.