Question: 16.30 Using the average baseball salary from 2000 through 2019 data for Problem 16.18 on page 602 (stored in MLB Salaries ), a. fit a

16.30 Using the average baseball salary from 2000 through 2019 data for Problem 16.18 on page 602 (stored in MLB Salaries ),

a. fit a third-order autoregressive model to the average baseball salary and test for the significance of the third-order autoregressive parameter. (Use a = 0.05.)

b. if necessary, fit a second-order autoregressive model to the average baseball salary and test for the significance of the second-

order autoregressive parameter. (Use a = 0.05.)

c. if necessary, fit a first-order autoregressive model to the average baseball salary and test for the significance of the first-order autoregressive parameter. (Use a = 0.05.)

d. forecast the average baseball salary for 2020.

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