Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In this Problem Set you will use data from the Australian Bureau of Statistics (ABS). Specifically, a data series from the ABS Retail Trade

image text in transcribedimage text in transcribed

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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction to Real Analysis

Authors: Robert G. Bartle, Donald R. Sherbert

4th edition

471433314, 978-1118135853, 1118135857, 978-1118135860, 1118135865, 978-0471433316

More Books

Students also viewed these Mathematics questions

Question

Decision making is more centralized.

Answered: 1 week ago