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The following ARIMA model results were fitted to the time-series data of Australia’s GDP. Based on the information provided, answer the questions below: Given Data:
Quarter, Year, GDP (in trillions of dollars) Q1, 2023, 6.5 Q2, 2023, 7.5 Q3, 2023, 8.0
ARIMA Model Output: Series: GDP Model: ARIMA(1,1,0) Coefficients: ar1 constant 2.5 0.6 Time Series Characteristics:
a)Describe the likely characteristics of this time series data (e.g.,cyclical, seasonal, with a trend). b)Calculate the predicted GDP value for Q4 2023 using the provided ARIMA model.
Sagot :
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