Question: The U S Department of Labor publishes consumer price indexes CPIs
The U.S. Department of Labor publishes consumer price indexes (CPIs) on many commodities. Following are the percentage changes in the CPIs for food and for shelter for the years 1994 through 2011.Use these data to develop a linear regression model to forecast the percentage change in food CPIs by the percentage change in shelter CPIs. Compute a Durbin-Watson statistic to determine whether significant autocorrelation is present in the model. Let α =.05.
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