What Is the Durbin-Watson Test for Autocorrelation,and How Can It

question 98

Essay

What is the Durbin-Watson test for autocorrelation,and how can it be useful in evaluating the relevance of a given regression model that has been fitted to a set of time series data?

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Definitions:

Kleenex Tissues

A brand name for a category of soft, absorbent, disposable papers that are suitable for use on the face.

Confidence Interval

A range of values, derived from a sample, that is likely to contain the population parameter with a specified level of confidence.

Normally Distributed Population

A population with a distribution that has a characteristic bell-shaped curve where most of the data points cluster around the mean.

Standard Deviation

An indicator of the degree of difference or spread within a collection of numbers.