What are some common errors when using ARIMA models?
An example of an AI chatbot conversation about common ARIMA model errors.
What are some common errors when using ARIMA models?
Some common errors include mis-specifying the model order, not checking for stationarity, and ignoring seasonality.
How can I check if my time series is stationary?
You can use the Augmented Dickey-Fuller test or visualize the series with a rolling mean and variance.
What should I do if my series is not stationary?
You can difference the series, apply transformations like log or square root, or use seasonal decomposition.
What does it mean to mis-specify the model order?
Mis-specifying the model order means choosing incorrect values for p, d, or q parameters, leading to poor forecasts.
Can you explain how to choose the right parameters for ARIMA?
You can use ACF and PACF plots to identify potential values for p and q, and use criteria like AIC for model selection.
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