TABLE 16-13 Given Below Is the Monthly Time-Series Data for U.S. Retail

question 33

Short Answer

TABLE 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 first month is 0:




-Referring to Table 16-13, what is your forecast for the 13ᵗʰ month using the second-order autoregressive model?

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Definitions:

Innate Tendency

Inborn or natural behaviors and characteristics that are genetically programmed, not learned from experience.

Rooting And Sucking

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Drive-Reduction Theory

A theory in psychology that explains motivation as being driven by the desire to reduce internal tensions caused by unmet needs.

Water Fountain

A device designed to eject a stream or spray of water for drinking or decorative purposes.