Table 3. Model for Seasonally Adjusting Vehicle Miles Traveled (VMT)
Model Type (1) | Transformation | Trading days / Significance (3) | Holidays (2) / Significance (3) | Outliers | ARIMA(4) | ||
---|---|---|---|---|---|---|---|
A | None | Day-of-week | *** | Labor Day | ** | None | (0 1 1)(0 1 1) |
A | None | Day-of-week | *** | Thanksgiving | * | None | (0 1 1)(0 1 1) |
(1) A = Additive
(2) Holidays
Labor Day = Friday before to Tuesday after (5 days).
Thanksgiving = Tuesday before to Sunday after (7 days)
(3) Significance
*** = significant at 0.01 level
** = significant at 0.05 level
* = significant at 0.10 level
N/S = not significant at 0.10 level
N/A = not applicable
(4) ARIMA = Autoregressive integrated moving average
Source: U.S. Department of Transportation, Bureau of Transportation Statistics