Question

In Exercise 30 we looked at the weekly average retail price (cents per gallon) of regular gas nationwide from 2011 through June 2013. Here’s the time series plot again:
a) What components can you see in this plot?
Here’s an AR(14) model fit to these data.
Here’s a time series plot of the model.
b) Does this model show that there is a (possibly unsuspected) 14-week seasonal cycle in gas prices? Explain.
c) Would you use this model to predict future gas prices? Explain.


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  • CreatedMay 15, 2015
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