Using the following time series data of U.S. new car sales ($ millions), respond to the following items. (The data is sourced from https://www.census.gov/retail/index.html#mrts. Find "Monthly Retail Trade Report," then select “Time Series/Trend Charts" to find th data for U.S. new car sales.). $ Sales (Millions) 2009 $ 486,565 Year 2010 549,473 608,790 672,550 735,374 785,142 842,120 877,743 911,157 2011 2012 2013 2014 2015 2016 2017

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Using the following time series data of U.S. new car sales ($ millions), respond to the following items. (The data is sourced from
https://www.census.gov/retail/index.html#mrts. Find “Monthly Retail Trade Report," then select "Time Series/Trend Charts" to find the
data for U.S. new car sales.).
$ Sales
(Millions)
$ 486,565
Year
2009
549,473
608,790
672,550
735,374
785,142
842,120
877,743
911,157
943,538
2010
2011
2012
2013
2014
2015
2016
2017
2018
E Click here for the Excel Data File
b. Test for autocorrelation using the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your
answers to 2 decimal places.)
Lagged
Residuals
Squared Difference
Squared Residuals
Year
Sales
Predicted
Residuals
2009
$
486,565
508,123.70
(21,558.70)
0.00
0.00
464,758,328.46
(10,455.50)
(2,943.26)
2010
549,473
559,928.50
2011
608,790
611,733.30
2012
672,550
663,538.00
9,011.96
2013
735,374
715,342.80
20,031.19
2014
785.142
767,147.60
17,994.41
2015
842.120
818,952.40
23,167.64
2016
877,743
870,757.10
6,985.86
2017
911,157
922,561.90
(11,404.90)
2018
943,538
974,366.70
(30,828.70)
Sums=
Transcribed Image Text:Using the following time series data of U.S. new car sales ($ millions), respond to the following items. (The data is sourced from https://www.census.gov/retail/index.html#mrts. Find “Monthly Retail Trade Report," then select "Time Series/Trend Charts" to find the data for U.S. new car sales.). $ Sales (Millions) $ 486,565 Year 2009 549,473 608,790 672,550 735,374 785,142 842,120 877,743 911,157 943,538 2010 2011 2012 2013 2014 2015 2016 2017 2018 E Click here for the Excel Data File b. Test for autocorrelation using the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answers to 2 decimal places.) Lagged Residuals Squared Difference Squared Residuals Year Sales Predicted Residuals 2009 $ 486,565 508,123.70 (21,558.70) 0.00 0.00 464,758,328.46 (10,455.50) (2,943.26) 2010 549,473 559,928.50 2011 608,790 611,733.30 2012 672,550 663,538.00 9,011.96 2013 735,374 715,342.80 20,031.19 2014 785.142 767,147.60 17,994.41 2015 842.120 818,952.40 23,167.64 2016 877,743 870,757.10 6,985.86 2017 911,157 922,561.90 (11,404.90) 2018 943,538 974,366.70 (30,828.70) Sums=
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