Please Answer Following Forecasting Question Using Time Series Data 10 Years Given Followi Q43827140
Please answer the following forecasting question using the timeseries data(10 years) given for the following data using “Rstudio”software.
Data
3044
3321
3723
4182
5050
6112
6701
6561
5508
5661
5479
5245
4134
4264
4636
5192
6040
6930
7349
7417
6697
7124
7013
6992
5666
6033
6458
6718
6927
8084
8450
8026
7346
7550
6919
6749
5706
6181
6661
7115
7958
8998
9519
9233
8314
8799
8265
8134
7340
7681
8273
8805
9668
10319
10857
10590
9590
9915
10028
9549
8632
8897
9206
10048
10556
11318
11749
11237
10566
10919
10956
10630
9692
9784
10244
10577
11170
12012
12503
12048
11303
11525
11497
11399
11562
11877
12201
12706
12936
13967
14120
14052
13091
13316
13197
13038
12108
12205
12425
12855
13013
13707
14279
13414
13183
12928
12390
12247
10985
11492
11656
12183
12930
13447
13910
13570
13296
13213
12418
12137
- Apply time series regression.
- Report the output of regression analysis.
- Use residual plots to check the assumptions of the regressionmodel.
- Forecast the next 12 periods.
- Construct the time series plot including forecasts.
- Apply Box-Jenkins methodology (assume that the time series datais stationary in its variance) and fit an appropriate ARIMAmodel.
- Write the ARIMA model using the backshift notation.
- Write the forecasting equation of the ARIMA model.
- Plot ACF and PACF of the residuals from the fitted model.
- Report the output for the coefficient estimates and errormeasures.
- Forecast the next 12 periods.
- Construct the time series plot including forecasts.
Expert Answer
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