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

question 84

Essay

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,construct a scatter plot (i.e. ,a time-series plot)with month on the horizontal X-axis.

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Definitions:

Skinner

B.F. Skinner, an American psychologist known for his work in developing the theory of operant conditioning, emphasizing the role of reinforcements in shaping behavior.

Reinforcement

A process in behavioral psychology where a behavior increases in frequency because it is followed by a rewarding stimulus.

Antecedent

Anything that occurs before a behavior that may trigger or cause a certain behavior to occur, often used in the analysis of behavior patterns.

Consequence

The result or effect of an action or condition, often seen in terms of how it affects an earlier event.