1. An analyst has been contracted to forecast the building approvals in Queensland. The quarterly data published by the Australian Bureau of Statistics for building approvals in Queensland from 2017-2021 are given below: Year 2017 2018 2019 2020 2021 March 6798 6190 6262 7545 7862 June 7486 6887 7379 8323 8687 Sept. 7612 7190 7875 8532 Dec. 7440 7533 8322 9189 (a) State and discuss the main components of the time series on building approvals in Queensland. (2 points) (b) Interpret the seasonal indices for the June and December quarters supplied by the PACEXL output. (2 points) (c) Use the multiplicative model to forecast building approvals for the September quarter 2003. (3 points) (d) What is the forecasting error for the June and December quarter 2020? (3 points)