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Question
Suppose an economist has developed a model for forecasting annual consumption, yt, as function of total labor income, x1t, and total property income, x2tbased on 20 years on annual data. The following regression model has been developed:
t = 7.81 + 0.91x1t + 0.57x2twith the standard error = 1.29 and the Durbin-Watson d statistic = 2.09. Using an alpha = .05, which of the following conclusions should be reached?
A) Conclude that no positive autocorrelation exists
B) Conclude that significant positive autocorrelation exists
C) Uncertain whether positive or negative autocorrelation exists
D) No significant autocorrelation exists.
Answer
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