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:

Salaries Payable

A liability account that represents the amount owed to employees for work performed but not yet paid.

Reversing Entry

An accounting entry made at the beginning of an accounting period to negate the effects of certain adjusting entries made in the previous accounting period.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet.

Credit

A contractual agreement in which a borrower receives something of value now and agrees to repay the lender at a later date, typically with interest.