5. Given a time series data, software chooses to fit an AR (5) model. If we want to fit a ARMA model, which of following models would be a good candidate. (5 points) a. ARMA (1,4) b. ARMA (2,2) c. ARMA (3,3) d. ARMA (4,3)3. Which of following statement is NOT correct about p value? (5 points) a. if p value=0.02, we could tell immediately that we would reject Ho at 10%, 5%, but not 1% b. If we reject null hypothesis at 10% significance level, we can also reject it at 20% c. Economists want to observe small p values associated with each coefficient estimates in regression output d. None of above2.Which of following statement is NOT correct about p: (5 points) '1 : PEI1 + \"1 a. As p approaches one in absolute value, the value of the previous observation of the error term becomes more important in determining the current value of error shock and a high degree of serial correlation exists. b. if p is greater than one in absolute value is unreasonable because it implies that the error term tends to continually increase in absolute value over time ("explode"). c. if Ipl :1 1, then E: is stationaryr d. none of above