Question: Discuss the similarities and differences between Level Shifts and Additive Outliers including how you would go about identifying them. 2. If you use a regression

  1. Discuss the similarities and differences between Level Shifts and Additive Outliers including how you would go about identifying them. 2. If you use a regression for forecasting and want to quantify the effect of Level Shifts and/or Outliers how would you include them in the model? 3. If you use ESM models how would you handle Level Shifts and Outliers?

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