value. However, analysis of the residuals indicated
that substantial autocorrelation was present.
a. What are some of the possible causes of this autocorrelation?
b. How does this autocorrelation affect the conclusions concerning the significance of the individual explanatory variables and the overall explanatory
power of the regression model?
c. Given that a person uses the model for forecasting future appliance sales,
how does this autocorrelation affect the accuracy of these forecasts?
d. What techniques might be used to remove this autocorrelation from the model?
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