Answered step by step
Verified Expert Solution
Question
1 Approved Answer
A second-order autoregressive model for four years of the monthly price of apples is shown below. The table shows the apple prices for the first
A second-order autoregressive model for four years of the monthly price of apples is shown below. The table shows the apple prices for the first year. Using the values from the table, what is the predicted value for October of the first year? Month Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Price 0.959 0.988 0.929 0.965 1.045 1.073 1.163 1.218 1.249 1.125 1.095 1.025 Variable Coefficient SE(Coeff) t-ratio P-value R squared = 81.2% Intercept 0. 189813 0.0854 2.22 0.0317 R squared (adjusted) = 80.3% Lag1 1.272570 0.1404 9.06 $0.0001 s = 0.0634 Lag2 - 0.435579 0.1434 - 3.04 0.0041 42 degrees of freedom The forecast value is. (Round to three decimal places as needed.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started