Using the data for Problem 16.17 on page 645 concerning the number of passenger cars produced in
Question:
Using the data for Problem 16.17 on page 645 concerning the number of passenger cars produced in the United States from 1999 to 2016 (stored in CarProduction ),
a. Fit a third-order autoregressive model to the number of passenger cars produced in the United States and test for the significance of the third-order autoregressive parameter. (Use α = 0.05.)
b. If necessary, fit a second-order autoregressive model to the number of passenger cars produced in the United States and test for the significance of the second-order autoregressive parameter. (Use α = 0.05.)
c. If necessary, fit a first-order autoregressive model to the number of passenger cars produced in the United States and test for the significance of the first-order autoregressive parameter. (Use α = 0.05.)
d. Forecast the U.S. car production for 2017.
Step by Step Answer:
Basic Business Statistics Concepts And Applications
ISBN: 9780134684840
14th Edition
Authors: Mark L. Berenson, David M. Levine, Kathryn A. Szabat, David F. Stephan