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Concept explainers
Using the average baseball salary from 200 through 2017 data for Problem 16.18 on page 645 (stored in BBSalaries).
a. fit a third-order autoregressive model to the average baseball salary and test for the signification of the third-order autoregressive parameter.
b. if necessary, fit a second-order autoregressive model to the average baseball salary and test for the significance of the second-order autoregressive parameter.
c. if necessary. Fit a first-order autoregressive model to the average baseball salary and test for the significance of the first order autoregressive parameter.
d. forecast the average baseball salary for 2018.
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Chapter 16 Solutions
BASIC BUSINESS STATISTICS-STUD.SOLN.MAN
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