The following ARIMA model results were fitted to the time-series
data of Australia’s GDP. Based on the information provided, answer
the questions below:
Given Data:

Quarter, Year, GDP (in trillions of dollars)
Q1, 2023, 6.5
Q2, 2023, 7.5
Q3, 2023, 8.0

ARIMA Model Output:
Series: GDP
Model: ARIMA(1,1,0)
Coefficients:
ar1 constant
2.5 0.6
Time Series Characteristics:

a)Describe the likely characteristics of this time series data (e.g.,cyclical, seasonal, with a trend).
b)Calculate the predicted GDP value for Q4 2023 using the provided ARIMA model.