Question 13.63

13.63 Egg shipments.

The U.S. Department of Agriculture tracks prices, sales, and movement of numerous food commodities. Consider the weekly number of eggs shipped in the Chicago retail market for the 52 weeks of 2012. Units are 30 dozen eggs in thousands.34

eggs

  1. Make a time plot of the egg shipment series.
  2. If software has the capability, produce an ACF for the series. If an ACF is not available with software, calculate the correlations between and and between and . Test these correlations against the null hypothesis that the underlying correlation .
  3. Based on parts (a) and (b), what do you conclude about the egg shipment process?

13.63

(a) The time plot of the egg shipment series looks random. (b) The ACF shows the egg shipment series is random. (c) The egg shipment series is random.