If the data presents a trend choose the appropriate models to model the trend You might try polynomial models up to order 6 Carefully explain your model choices To model the trend we use the period from 1992Q1 to 2011Q2 because the period from 2011Q3 to 2012Q2 is reserved for forecasting exercise

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a All these diagrams above are diagrams for the understanding of the biasvariance tradeoff Lets Understand first the term and the relation between bias and variance using simple linear regression The ... View the full answer