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analysis the data and write a report.This Eviews file contains 269 monthly observations from 01/1989 to 05/2011 on the following variable:Consumption:Consumer expenditure consumption in the USRequired:1.Construct a univariate time-series model using the consumption variable.Recall thatthere are three stages involved in this process:Identification,estimation and diagnostictest.You should cover all these aspects until you reach your final model.2.Forecast and test the forecasting accuracy of your model.Use as a forecasting samplefor the period between 2009M01 to 2011M05.What can you conclude about this?ReportWrite a report on the models you have estimated.This should contain:IntroductionDiscussion on the nature of the dataEconometric methodology usedHow you chose your final specificationsConclusions(should include also any limitations and weaknesses you perceive with theempirical work undertaken)The report should be written in the style of an empirical journal article and should not containmore than 1,500 words.Brooks,Chapter 13(3rd Edition)or Chapter 15(4th Edition)providessome advice on this.You should not include Eviews output directly within the text.You shouldreport results of the appropriate statistical tests and where appropriate estimation results in thestyle used in the empirical journal articles.Overall,you need to explain in detail what is being done and discuss the results appropriately.
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