General Studies · Time Series Analysis
In the context of autocorrelation in time series analysis, consider the following statements: 1. Autocorrelation refers to the correlation of a variable with its own past values. 2. The Durbin-Watson statistic is used to test for first-order autocorrelation in regression residuals. 3. Autocorrelation violates the assumption of independent errors, but OLS estimators remain unbiased. Which of the statements given above are correct?
- 1Only 1 and 2
- 2Only 1 and 3
- 3Only 2 and 3
- 41, 2, and 3✓
Correct answer
1, 2, and 3
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