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

question 48

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 third-order autoregressive model?

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Definitions:

Small Business

An enterprise with limited revenue and a small number of employees, as defined by government standards.

Raise Capital

The act of obtaining funds or resources for business operations, expansion, or investment.

Franchise

A business model where the brand and business system of a franchisor is licensed to a franchisee in exchange for fees or royalties.

Intellectual Property

Creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names, and images used in commerce.