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

question 19

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, if a five-month moving average is used to smooth this series, what would be the last calculated value?

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Definitions:

Critical Value

A threshold value used in hypothesis testing to determine whether to reject the null hypothesis.

Null Hypothesis

In hypothesis testing, it's the presumption that no significant difference exists as a result of the experiment or intervention.

Significance

The likelihood that a result from data collected and analyzed is not due to chance. It’s often determined through the use of a p-value.

Null Hypothesis

A hypothesis that there is no significant difference or effect in a particular situation, used as a starting point for statistical testing.