Fitting an arma model to residuals from a prophet model

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Reference no: EM133759388

Data-driven Decision Making and Forecasting

Assessment - Fitting and evaluating ARIMA and VAR time series models

Tasks: Compare fitting a SARIMA model to fitting an ARMA model to residuals from a Prophet model, for a time series. Discuss the advantages and disadvantages of the two approaches.

Assessment Description
In class: A time series will be given to you at the start of your usual 3-hour class in Week 9, together with specific questions to answer. You will be expected to use Exploratory and Excel.

In class:
At the beginning of the class, your facilitator will provide you with a dataset and a series of questions to answer. You will create a Word document with the answers to questions. At the end of class, submit your Word file via MyKBS.

Part A: Fit SARIMA models to the time series and provide plots of the time series and predictions. Provide the acfs of the residuals.

Part B: Obtain residuals from Prophet models and fit ARMA models to these residuals.

Part C: Discuss the advantages and disadvantages of the two approaches.

Reference no: EM133759388

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