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

question 58

Multiple Choice

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,the best autoregressive model using the 5% level of significance is

• A)first-order
• B)second-order
• C)third-order
• D)none of the above

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Definitions:

NeoPiagetians

Theorists who explain Piaget’s stages or revise the stages using many information processing concepts. These theorists attempt to combine the best components of both Piagetian and information processing approaches.

Cognitive Development

This refers to the growth of mental processes and capabilities, including thinking, problem-solving, and decision-making abilities, across a person's lifespan.

Information Processing

The method by which individuals perceive, analyze, manipulate, store, and recall information through mental and cognitive functions.

Concrete Operations

A stage in Jean Piaget’s theory of cognitive development, typically occurring between ages 7 and 12, where children start thinking logically about concrete events.