| Divide | Bowman | Burke |
Model type | ARIMA (2, 1, 0) (0, 1, 1)s | ARIMA (2, 1, 0) (0, 1, 0)s | ARIMA (2, 1, 0) (0, 1, 1)s |
AR (1) | 0.39*** (0.11) | −0.30** (0.11) | −0.06 (0.11) |
AR (2) | −0.32*** (0.12) | −0.18 (0.11) | 0.31*** (0.11) |
SMA (12) | 0.37*** (0.14) | N/A | 0.71*** (0.24) |
No. of Obs. | 89 | 91 | 91 |
MAE | 29413 | 38122 | 12685 |
R2 | 0.985 | 0.967 | 0.974 |
Ljung-Box χ2 test for error autocorrelation | No at 5% | No at 5% | No at 5% |
ADF test for trend | No at 1% | No at 1% | No at 1% |
SDF test for trend | No at 1% | No at 1% | No at 1% |