Question

What is the first order serial correlation?

Answer 1

Answer:

With first-order serial correlation, errors in one time period are correlated directly with errors in the ensuing time period. ... With positive serial correlation, errors in one time period are positively correlated with errors in the next time period

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Answer 2

Answer:

With first-order serial correlation, errors in one time period are correlated directly with errors in the ensuing time period. (Errors might also be lagged, e.g. if data are collected quarterly, the errors in Fall of one year might be correlated with the errors of Fall in the next year.)

Explanation:

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