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  3. 1: explain the term ‘autoregression’

1: Explain the term ‘autoregression’ in a time series regression context. 2. Explain the term ‘autocorrelation’ and...

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Statistics

1: Explain the term ‘autoregression’ in a time series regressioncontext.

2. Explain the term ‘autocorrelation’ and the problems itcreates when using OLS regression in time series data.

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1 Autoregression Autoregression is a time series model that uses observations from previous time steps as input to a regression equation to predict the value at the next time step It is a very simple idea that can result in accurate forecasts on a range of time series    See Answer
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