Consider the following time series.   t 1 2 3 4 5 yt 5 11 9 14 14       (a) Choose the correct time series plot.   (i)   (ii)   (iii)   (iv)         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 places.   y-intercept, b0 =     Slope, b1 =     MSE =       (c) What is the forecast for t = 6?   If required, round your answer to one decimal place.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.4: Multiple Regression Models
Problem 17P: The owner of a restaurant in Bloomington, Indiana, has recorded sales data for the past 19 years. He...
Question

Consider the following time series.

 

t 1 2 3 4 5
yt 5 11 9 14 14

 

 

 

(a) Choose the correct time series plot.
 
(i)   (ii)  
(iii)   (iv)  
   
  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 places.
  y-intercept, b0 =  
  Slope, b1 =  
  MSE =  
   
(c) What is the forecast for t = 6?
  If required, round your answer to one decimal place.
   
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