An Estimated Second-Order Autoregressive Model for Average Mortgage Rate Is $\tilde { y } _ { z } = - 3 + 2.0 y _ { t - 1 } - .75 y _ { t - 2 }$

question 211

Essay

An estimated second-order autoregressive model for average mortgage rate is: $\tilde { y } _ { z } = - 3 + 2.0 y _ { t - 1 } - .75 y _ { t - 2 }$ .If the average mortgage rate in 2004 was 6.5 and in 2011 was 6.0,the forecast for 2013 is ____________________.

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Definitions:

Tachycardia

an abnormally fast heart rate, typically defined as having a resting heart rate of over 100 beats per minute.

Arrhythmia

A problem with the rate or rhythm of the heartbeat, causing it to be too fast, too slow, or irregular.

Axillary

Pertaining to the armpit area.

Oral

Relating to the mouth or spoken rather than written communication.