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

question 27

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 value of the t test statistic for testing the appropriateness of the third-order autoregressive model?

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Definitions:

Bilateral

Pertaining to or affecting both sides of the body.

Measurement Unit

Standard quantities used to specify measurements.

Frequency

The rate at which a vibration occurs that constitutes a wave, either in a material (as in sound waves) or in an electromagnetic field (as in radio waves and light).

Pitch

In music, refers to the perceived frequency of a sound; in sports, it's the playing surface for games like soccer and cricket.