What is the proper plain-English interpretation of these models (unit of measure is month)?
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1- ARIMA(4,1,1)<br>
2- ARIMA(3,1,3)(1,0,2)12 <br>
3- ARIMA(0,1,1)<br>
4- ARIMA(1,1,0)
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My attempt:<br>
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.<br>
2-(not sure)<br>
3-The value of the current month depends only on the prediction error of the last month<br>
4-The value of the current month depends only on the value from the last month