The data file Advertising Retail shows, for a consumer goods corporation, 22 consecutive years of data on sales (y) and advertising (x) a Estimate the regression yt 0 1xt t b Check for autocorrelated errors in this model c If necessary, re estimate the model, allowing for autocorrelated errors

Question: The data file Advertising Retail shows, for a consumer goods corporation, 22 consecutive years of data on sales (y) and advertising (x). a. Estimate the

The data file Advertising Retail shows, for a consumer goods corporation, 22 consecutive years of data on sales (y) and advertising (x).
a. Estimate the regression:
yt = β0 + β1xt + εt
b. Check for autocorrelated errors in this model.
c. If necessary, re-estimate the model, allowing for autocorrelated errors.

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