Question: Using the following yearly data, answer the following questions.

a. Construct a time series plot.

b. Fit a linear trend line to the data.

c. Find the MSE of the linear model..

d. Fit a quadratic trend equation to the data.

e. Find the MSE of the quadratic model.

f. Which model is preferred? Why?

Year Value

1 340

2 390

3 390

4 450

5 445

6 440

7 460

8 455

9 420

10 400