What is the proper plain-English interpretation of these models (unit of measure is month)?
1- ARIMA(4,1,1)
2- ARIMA(3,1,3)(1,0,2)12
3- ARIMA(0,1,1)
4- ARIMA(1,1,0)
My
- $\text{ARIMA}(4,1,1)$
- $\text{ARIMA}(3,1,3)(1,0,2)_{12}$
- $\text{ARIMA}(0,1,1)$
- $\text{ARIMA}(1,1,0)$
My attempt:
1-The value of the current month depends on the values of the last four months along with the prediction error of the last month.
2-(not sure)
3-The value of the current month depends only on the prediction error of the last month
4-The value of the current month depends only on the value from the last month
- The value of the current month depends on the values of the last four months along with the prediction error of the last month.
- (not sure)
- The value of the current month depends only on the prediction error of the last month
- The value of the current month depends only on the value from the last month