The data shows the levels of lake michigan measured at...

The data shows the levels of Lake Michigan measured at periodic time intervals in the file named LakeMichigan.csv (attached below). The name of the time series in this file is Level. Submit your answers as a Word or PDF file. Do not forget to include R code and output. 1) Plot the sample ACF and plot the sample PACF for this data. Based on this output, suggest a model that would be appropriate for this time series. 2) Fit the model that you identified in part a (Model estimation). Interpret your model estimation results. 3) Perform the diagnostic checks for this model.

Transcript

00:01 So, in the given question, they have given the time period and the elevation, they have asked us to calculate, plot the graph for the given data.

00:10 So, the time period we are going to consider it as the x axis and in the given data, the time period is given for from 1 year to 15 years.

00:23 So, we are going to consider x axis as 1 unit is equal to 1 year, that is we can have that 1 centimetre is equal to 1 year in the x axis and we are going to plot from 0 to 15.

00:43 Similarly, elevation that is the height is they have given it in 3000 that one.

00:52 So, this elevation is we are going to have it in the y axis and we are going to have 1 unit as 1 unit is that is 1 centimetre is 5 metres that is 5 units.

01:12 For this we are going to have like this.

01:15 Now let us draw the x axis and the y axis and let us plot the values first.

01:23 So, here this is the y axis, this y axis represents about the elevation.

01:30 So, we are going to write it over here and this x axis represents for time period.

01:36 So, here first one we will go with 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and we have got 15.

02:05 So, here the minimum data value starts from 3795.

02:13 So, we are going to start from 3790 or 95 whatever you wish we can start.

02:20 I am going to start it from 3795, 3795.

02:28 So, 55 units 55 metres we are going to add it.

02:32 So, it would be like 3795 plus 5 means 3800, 3805, 3810 the maximum values is up to 3817.

02:54 So, we will go by up to 3820.

02:59 So, 3815 and here is 3820.