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

question 152

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 second-order autoregressive model?

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Definitions:

State-Dependent Retrieval

The phenomenon where information learned in a particular state of mind is more easily recalled when in that same state.

Biological State

A term referring to the condition or status of an organism's functioning at the biological level, encompassing aspects like metabolism, hormone levels, and overall health.

Encoded

The process of converting information into a particular form for efficient communication, storage, or processing.

Short-Term Memory

A capacity for holding a small amount of information in mind in an active, readily available state for a short period of time.