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Consider the market closing daily prices on IBM in file IBMclose.dat. Estimate the ARCH(1) and ARCH(2) models using the code in file Assgn3.sas. Are the

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Consider the market closing daily prices on IBM in file IBMclose.dat. Estimate the ARCH(1) and ARCH(2) models using the code in file Assgn3.sas. Are the squared returns on IBM serially correlated? Is therefore IBM volatility predictable? Does your finding contradict the former conclusion that returns on IBM are white noise

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