Table 2 gives the regression output of an AR(1) model on first differences in the unemployment rate. Describe how to interpret the DW statistic for this regression.
TABLE 2 Estimating an AR(1) Model of Changes in the Civilian Unemployment Rate Monthly Observations, March 1996-December 2000
Regression Statistics
R-squared...................................0.2184
Standard error.............................0.1202
Observations....................................58
Durbin-Watson...........................2.1852

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Coefficient Standard Error t-Statistic Intercept AUER,-1 -0.0405 0.0161 -2.5110 -0.4674 0.1181 -3.9562