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In this Problem Set you will use data from the Australian Bureau of Statistics (ABS). Specifically, a data series from the ABS Retail Trade
In this Problem Set you will use data from the Australian Bureau of Statistics (ABS). Specifically, a data series from the ABS Retail Trade Statistics. We can download the relevant Excel spreadsheet from the ABS website, or we can use an R package to read in the data we need. To do this, first install the package readabs: install.packages("readabs") Problem [10 marks]: We can use the package readabs to read our data directly from ABS website and create a tsibble, as follows: library(readabs) myseries % select(date, value, series) %>% mutate (Month = as_tsibble( index = Month ) yearmonth (date)) %>% A117725602X is the series ID for total turnover from online non-food retailing. It can be looked up from the relevant ABS data spreadsheet. b. Try two different Box-Cox transformations in order to stabilise the variance of the data series. Plot the two transformed series and discuss the impact of the transformations. Do you think a transformation is needed? Justify your reasoning. Be sure to label all your figures.
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