Question
A.....Define the term autoregressive model and list two of its assumptions. B....Use the demand data to generate forecast values with AR(1), AR(2) and AR(3) and
A.....Define the term autoregressive model and list two of its assumptions.
B....Use the demand data to generate forecast values with AR(1), AR(2) and AR(3) and compare the model with multiple R value to make your decision.
| Data | |
| Month | GDP in billions of current dollars |
| 2001 | 10284.80 |
| 2002 | 10621.80 |
| 2003 | 10977.50 |
| 2004 | 11510.70 |
| 2005 | 12274.90 |
| 2006 | 13093.70 |
| 2007 | 13855.90 |
| 2008 | 14477.60 |
| 2009 | 14718.60 |
| 2010 | 14418.70 |
| 2011 | 14964.40 |
| 2012 | 15517.90 |
| 2013 | 16155.30 |
| 2014 | 16691.50 |
| 2015 | 17427.60 |
| 2016 | 18120.70 |
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
Public Finance Administration
Authors: B. J. Reed, John W. Swain
2nd Edition
0803974051, 978-0803974050
