Question: Using the average baseball salary from 2000 through 2013 data for Problem 16.18 on page 646 (stored in BB-Salaries), a. Fit a third-order autoregressive model

Using the average baseball salary from 2000 through 2013 data for Problem 16.18 on page 646 (stored in BB-Salaries),
a. Fit a third-order autoregressive model to the average baseball salary and test for the significance of the third-order autoregressive parameter. (Use a = 0.05.)
b. If necessary, fit a second-order autoregressive model to the average baseball salary and test for the significance of the second-order autoregressive parameter. (Use a = 0.05.)
c. If necessary, fit a first-order autoregressive model to the average baseball salary and test for the significance of the first order autoregressive parameter. (Use a = 0.05.)
d. Forecast the average baseball salary for 2014?

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a Coefficients Standard Error t Stat Pvalue Intercept 01927 07859 02452 08133 ... View full answer

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