Final answer:
The two aspects of time series data that can be taken into account using the simple Least Squares Regression model are trend and seasonality.
Step-by-step explanation:
The two aspects of time series data that can be taken into account using the simple Least Squares Regression model are trend and seasonality.
The trend refers to the long-term direction of the data. It can be increasing, decreasing, or stable. The simple Least Squares Regression model can help identify and estimate the trend component of the time series.
Seasonality refers to the repetitive patterns that occur in the data at regular intervals. For example, sales of sunscreen tend to increase during the summer months. The simple Least Squares Regression model can also capture and estimate the seasonal component of the time series.