Data Obtain time series data on the price of a commodity. ** I will send the da

Data
Obtain time series data on the price of a commodity. ** I will send the da

Data
Obtain time series data on the price of a commodity. ** I will send the data
Analysis
(1) Transform the data if necessary. (2) Plot the data and tabulate the descriptive statistics. Comment on your observations. (3) Conduct ARIMA modelling. (4) Appraise the adequacy of the results and apply appropriate diagnostic procedures. Which model gives the best ‘fit’? (5) Forecast the commodity price using appropriate forecasting techniques and evaluate your forecast. Select the best model for forecasting. (6) Compare your methods and findings with those of other empirical studies on this topic.