Question: Using the data from Exercise 49 develop and compare the following models: In exercise a) Fit a regression model with just Year as the predictor.

Using the data from Exercise 49 develop and compare the following models:

In exercise

a) Fit a regression model with just Year as the predictor.
b) Add a lag1 component to the model of (a). How does it change the coefficient of Year?
c) Add lag2 and lag3 components to the model. How do the coefficients change?
d) Can you account for these changes?

9.34 - 8.09 6.84 5.59 2000 2006 2007 2009 2011 2013 Year

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