Week 10: Multiple regression and forecasting
What you will learn this week
- Useful predictors for time series forecasting using regression
- Selecting predictors
- Ex ante and ex post forecasting
Pre-class activities
Read Chapter 7 of the textbook and watch all embedded videos
Slides for seminar
Workshop activities
Seminar Code
Tutorial exercises
NoteTutorial Learning Objectives
- Fit and forecast with
TSLM().- Able to build linear time series regression models for forecasting.
- Understand how to use regression models for forecasting, including selecting predictors and evaluating forecasts.
- Evaluate regression forecasts.
- Able to use residual diagnostics and information criteria to compare models.
- Able to interpret relationships on transformed scales where used.
- Able to write out the regression equation for a fitted model, including interpreting coefficients and using the equation to compute forecasts.
- Complete Exercises 1-7 from Section 7.10 of the book.