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Specific souce of pure and impure serial correlation

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Reference no: EM131775887

1. Serial Correlation

a. A Durbin Watson statistic could indicate either the presence of "pure" or "impure" autocorrelation:

  • i Describe a specific souce of "pure" and "impure" serial correlation.
  • ii. Which is more detrimental to a model? Why ?

b. Given a model "infected" with first-order autocorrelation:

  • i. Why are the t-statistics likely to be misleading?
  • ii. What danger does this pose to the researcher?

c. Given Yt= B0Xt +et and Yt-1 = B0+B1Xt-1+et-1,mathematically derive the Cochrane-Orcutt generalized difference equation whose parameters will be purged of first-order autocorrelation.

Reference no: EM131775887

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