table 6 gives the regression statistics from estimating the model Δln (Salest) = b0 + b1Δln (Salest −1) + εt. table 6    Change in the natural log of Sales for Cisco Systems Quarterly Observations, 3Q:1991–4Q:2000 regression Statistics R-squared Standard error Observations Durbin–watson intercept Δln (Salest −1) Coefficient 0.0661 0.4698 0.2899 0.0408 38 1.5707 Standard error 0.0175 0.1225 t-Statistic 3.7840 3.8339 a.    Describe the salient features of the quarterly sales series. b.    Describe the procedures we should use to determine whether the ar(1) specification is correct. C. assuming the model is correctly specified, what is the long-run change in the log of sales toward which the series will tend to converge

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table 6 gives the regression statistics from estimating the model Δln (Salest) = b0 + b1Δln (Salest −1) + εt. table 6    Change in the natural log of Sales for Cisco Systems Quarterly Observations, 3Q:1991–4Q:2000 regression Statistics R-squared Standard error Observations Durbin–watson intercept Δln (Salest −1) Coefficient 0.0661 0.4698 0.2899 0.0408 38 1.5707 Standard error 0.0175 0.1225 t-Statistic 3.7840 3.8339 a.    Describe the salient features of the quarterly sales series. b.    Describe the procedures we should use to determine whether the ar(1) specification is correct. C. assuming the model is correctly specified, what is the long-run change in the log of sales toward which the series will tend to converge

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