Discussion Post: ACF & Time Series Decomposition
To complete this discussion you need series Median usual weekly nominal earnings (second quartile): Wage and salary workers: Bachelor's degree and higher: 25 years.
• Build an acf plot for the series. Explain what the acf is indicating. Are you observing any trend/seasonality?
• Using classical decomposition (additive and multiplicative) to calculate the trend, seasonal indices, and the remainder.
• Explain the type of trend you are observing on the Median usual weekly nominal earnings (second quartile) (increasing or decreasing). Explain what seasonal indices indicate? Are you observing any seasonality?
• Which decomposition better fits your assigned variable?
The response must include a reference list. Using Times New Roman 12 pnt font, double-space, one-inch margins, and APA style of writing and citations.