Simulate a completely random process of length 48 with independent, normal values. plot the time series plot. does it look "random"? repeat this exercise several times with a new simulation each time

Yes

Explanation:

Go to MS Excel and type in the following formula

=NORMINV(RAND(),0,1)

This will generate a random simulation. here 0 and 1 are mean and standard deviation respectively. Keeping them 0 and 1 implicitly generates an independent normal simulation. Then press F9 to repeat the exercise as many times as u like

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