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Time Series Data: Forecast Yearly Advertising Costs

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The following time series data represent the yearly amounts spent on advertising (in millions of dollars) by a large toy company:
17.1, 19.0, 18.8, 20.9, 22.0
This series of data begins in year (i.e., time period corresponds to ). Using regression analysis, a linear trend line of the form was fit to the data. Using this information, generate a forecast for the total yearly amount of money that will be spent on advertising in.

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The solution uses regression analysis to fit the time series data.

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Use the following:

t=10 (the reason is this: you are given ...

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