The seasonal dummy model Yt=δ+∑j=13γjljt+ϵt is estimated on the quarterly growth rate of housing starts, and the estimated parameters are γ1=6.23,γ2=56.77,γ3=10.61, and δ=−15.79 using data until the end of 2018. What are the forecast growth rates for the four quarters of 2019?
选项:
解释:
Though there is variance from quarter-to-quarter, the expected value of Yt is the same for any two observations of the same quarter, regardless of the year.