Refer to the R code below to generate records of length 500 of AR(1) with = 0.5 and MA(1) with = 0.5, and compute their ac.f. Plot the ac.f. for these processes. Does the ac.f. of MA(1) display its benchmark property of cut off? If so, what is the cut off lag? How would you describe the behavior of the AR(1) acf? Is there any finite lag after which its acf seems to be zero? Explain your conclusions

ar1 < arima.sim(n=500, list(ar=0.5)) acf(ar1) ma1 < arima.sim(n=500, list(ma=0.5)) acf(ma1)