The snippet for ACF and PACF is:
PACF :
ACF:
For ‘hotel_avg_daily_rate,’ the PACF indicates a notable spike at lag 1, followed by subsequent lags within the confidence range, suggesting an AR(1) element in the SARIMA model. The decreasing trend in the ACF suggests the need for differencing (d) to achieve stationarity and potentially a non-seasonal MA component.
On the other hand, ‘hotel_occup_rate’ exhibits a prominent initial spike in the PACF and significant seasonal spikes in the ACF, hinting at possible seasonal MA components. This points toward a SARIMA model with an AR(1) part and seasonal differencing, likely SARIMA(1,1,0)x(0,1,Q)12. Here, ‘Q’ relates to significant seasonal lags observed in the ACF plot. Determining the exact ‘Q’ value requires further scrutiny of these seasonal lags, yet the evident seasonality implies it wouldn’t be zero.