TABLE 16-13 Given Below Is the Monthly Time-Series Data for U.S.retail Sales

question 69

Short Answer

TABLE 16-13
Given below is the monthly time-series data for U.S.retail sales of building materials over a specific year. The results of the linear trend,quadratic trend,exponential trend,first-order autoregressive,second-order autoregressive and third-order autoregressive model are presented below in which the coded month for the 1^st month is 0:
Linear trend model: Quadratic trend model: Exponential trend model: First-order autoregressive: Second-order autoregressive: Third-order autoregressive: Below is the residual plot of the various models:
-Referring to Table 16-13,what is your forecast for the 13^th month using the quadratic-trend model?

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Definitions:

Tasteless

Lacking flavor or not having any taste, often used to describe food or substances without a discernible taste.

Odorless

Lacking a detectable smell.

Liquid

A substance that flows freely but is of constant volume, having a consistency like that of water or oil.

Metabolism

The chemical processes that occur within a living organism in order to maintain life, involving anabolic and catabolic reactions.