Using the data, respond to the following items. (The data is sourced from https://www.census.gov/retail/index.html#mrts, find Monthly Retail

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Using the data, respond to the following items. (The data is sourced from https://www.census.gov/retail/index.html#mrts, find “Monthly Retail Trade Report,” and select “Time Series/Trend Charts” to find the data for many retail sectors of the economy.)

Year Sales Year Sales 2000 402,515 2009 510,033 2001 418,127 2010 520,750 2002 419,813 2011 547,476 2003 427,987 2012 563,645 2004 441,136 2013 574,547 2005 457,667 2014 599,603 2006 471,699 2015 613,159 2007 491,360 2016 625,295 2008 511,222 2017 639,161

a. Plot the residuals associated with the trend model for these data.

b. T est for autocorrelation using the .05 significance level.

c. R eport and interpret your result.

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Statistical Techniques In Business And Economics

ISBN: 9781260239478

18th Edition

Authors: Douglas Lind, William Marchal, Samuel Wathen

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