- a QUESTION 5 1 poi Consider the following information for a set of three ARMA models: ARMA(1,0), ARMA(1,1) and ARMA(3,2). p AIC 0 -4.204 -6.819 3 2 -6.847 Based on this information only, what is the best way to proceed with model specification? O a. Eliminate the ARMA(1,0) because it has a clearly inferior fit versus parsimony tradeoff according to the AIC. O b. Choose the ARMA(3,2) only because it has the best fit versus parsimony tradeoff according to the AIC. O c. Choose the ARMA(1,1) only because it has a better fit than the ARMA( 1,0) but it is more parsimonious than the ARMA(3,2). O d. Eliminate all the models in this set because they have a negative AIC value