If you examined the Autocorrelation function (ACF) chart for quarterly data on Retail food sales in Australia over the last 10 years what would expect to see?

Select one:

a.

No significant autocorrelations for any lag

b.

Only one significant autocorrelation at lag 1

c.

The autocorrelations would be significant for the first few lags and then decline slowly for lags past that point

d.

There would be significant autocorrelations at lags 4, 8, 12, 16

e.

Both (c) and (d)