In the Model Y_t = β₀ + β₁y_t-1 + ε_t

question 42

Short Answer

In the model y_t = β₀ + β₁y_t-1 + ε_t, the parameter β₁ represents the ________ of the lagged response variable y.

---

Definitions:

Continent

A large continuous mass of land distinguished by geographers as one of the major landmasses on Earth's surface.

Country

A recognized political entity with its own government, territory, and population.

Referent

The actual object, event, or condition that a word or phrase denotes or stands for.

Vehicle

A means of transport, such as a car, bicycle, or airplane, used for carrying people or goods.