THE STUDENTS ARE ADVISED TO USE TIME SERIES DATA(AT LEAST 20 DATA POINTS) FOR THE EXERCISE ON AUTOCORRELATION. AT LEASTTHREE INDEPENDENT VARIABLESMAY BE USED IN THE EQUATION. THE PRESENCE/ABSENCE OF AUTOCORRELATION MAY BE TESTED WITH GRAPHICAL METHOD AND USING THE dw STATISTIC.MAPE MAY BE WORKED OUT FOR THE ESTIMATES AND FORECASTS FOR 3-5 TIME PERIOD MAY BE DONE.
THE EXERCISE WILL BE PRESENTED AND DISCUSSED IN THE NEXT CLASS ON MONDAY.