Question: Current Construction Reports from the U.S. Census Bureau contain data on new privately owned housing units. Data on new privately owned housing units (1000s) built

Current Construction Reports from the U.S. Census Bureau contain data on new privately owned housing units. Data on new privately owned housing units (1000s) built in the West between 1980 and 2006 follow. Use these time-series data todevelop an autoregression model with a one-period lag. Now try an autoregression model with a two-period lag.

Discuss the results and compare the twomodels.

Housing Starts (1000) 333.0 270.4 281.1 443.0 432.3 428.9 443.2 413.1 391.6 361.5 318.1 308.4 382.2 419.5 Year Year 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Housing Starts (1000) 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 453.0 430.3 468.5 464.2 521.9 550.4 529.7 556.9 606.5 670.1 745.5 756.1 826.8

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