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

question 128

Short Answer

SCENARIO 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:
Third-order autoregressive::

Below is the residual plot of the various models:

-Referring to Scenario 16-13,what is the p-value of the t test statistic for testing the appropriateness of the third-order autoregressive model?

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Definitions:

One-Year Warranty

A guarantee given by the seller or manufacturer to the buyer that a product will be free from defects for a period of one year from the date of purchase.

Psychodynamically Oriented

Pertaining to therapeutic or theoretical approaches that focus on unconscious processes and the influence of early experiences on current behavior.

Environmental Forces

External factors such as economic, technological, legal, and social factors that affect an individual or organization's ability to operate or achieve its goals.

Internal Perspective

Focuses on examining internal attributes, motives, and processes that influence an individual's behavior and decisions.