Question: Refer to the data given in problem 14.11 on page 564 that represent New Zealand GDP. a. Fit a third-order autoregressive model to the GDP

Refer to the data given in problem 14.11 on page 564 that represent New Zealand GDP.

a. Fit a third-order autoregressive model to the GDP data and test for the significance of the third-order autoregressive parameter. (Use α 5 0.05.)

b. Fit a second-order autoregressive model to the GDP data and test for the significance of the second-order autoregressive parameter. (Use α 5 0.05.)

c. Fit a first-order autoregressive model to the GDP data and test for the significance of the first-order autoregressive parameter. (Use α 5 0.05.)

d. If appropriate, forecast welfare as a percentage of GDP in 2002 and 2003.

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