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Plot the Data on U.S. General Aviation

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Plot the data on U.S. general aviation shipments (b) Describe the patterns and discuss possible causes.(c) Would a fitted trend be helpful? Explain. (d) Make a similar graph for 1992-2003 only. Would a fitted trend be helpful in making a prediction for 2004? (e) Fit a trend model of your choice to the 1992-2--3 data (f) make a forecast for 2004, using either the fitted trend model or a judgement forecast. Why is it best to ignore earlier years in this data set?

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A complete, neat and step-by-step solution is provided in the attached Excel file with brief discussion, calculations and interpretation of the results.

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