Question: 5. The five models, AR(1), ARMA(1, 1), ARMA(1, 2), ARMA(2, 3), and ARMA(4, 3) are fitted to the same time series. The models are ranked

 5. The five models, AR(1), ARMA(1, 1), ARMA(1, 2), ARMA(2, 3),

5. The five models, AR(1), ARMA(1, 1), ARMA(1, 2), ARMA(2, 3), and ARMA(4, 3) are fitted to the same time series. The models are ranked using Akaike Information Criterion (AIC): AIC = -2x log-likelihood+2 x(p + q + 2). Model Loglikelihood AR(1) -650 You are given the following information: ARMA(1, 1) -641 ARMA(1, 2) -636 ARMA(2, 3) -630 ARMA(4, 3) -629 Determine the best model

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