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

question 27

Short Answer

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,what is the value of the t test statistic for testing the appropriateness of the third-order autoregressive model?

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Definitions:

Thyroid Gland

The endocrine gland that produces thyroxine and regulates metabolism.

Pituitary Gland

A pea-sized gland located at the base of the brain that produces hormones which regulate important bodily functions, including growth, metabolism, and reproduction.

Adrenal Glands

Glands located above the kidneys that produce a variety of hormones including adrenaline and cortisol, which regulate stress responses and other vital functions.

Circadian Variables

Factors that can influence the rhythm of circadian biological clocks, including light exposure, timing of meals, and physical activity.