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ECON 307 reading 3

ECON 307 reading 3 - autocorrelation thta the older you are...

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Champion, and Lenard stressed the importance of assumptions in model building during a Forecasting class in order to illustrate the Durbin-Watson statistic test. The test was done at an Australian University in order to show the students how it worked and intrigue them to become interested on their own. They first hypothesized a pattern that could be detected through regression the Durbin-Watson statistic. The hypothesis was that older students sit more toward the front and younger more towards the back. It was found to be true after using the Durbin-Watson statistic through
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Unformatted text preview: autocorrelation thta the older you are the more likely you are to sit in the front and the younger the more likely you are to be in the back. Another observation made was perhaps that success was in seeking patterns rather than detecting them. The whole goal of course was that students who are involved with collecting the data are more likely to enhance their capacity to relate to the demonstration....
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