For the data below:
Year
|
Automobile Sales
|
Year
|
Automobile Sales
|
1990
|
116
|
1997
|
119
|
1991
|
105
|
1998
|
34
|
1992
|
29
|
1999
|
34
|
1993
|
59
|
2000
|
48
|
1994
|
108
|
2001
|
53
|
1995
|
94
|
2002
|
65
|
1996
|
27
|
2003
|
111
|
(a) Determine the least squares regression line using Excel.
(b) Determine the predicted value for 2004.
(c) Determine the 3 month moving average.
(d) Determine the MSE for the trend line (in a) and the 3 month moving average (in c.) Which forecasting method is better? Explain.