The data file Gold Price shows the year-end price of gold (in dollars) over 14 consecutive years. Use the method of simple exponential smoothing, with a smoothing constant of α = 0.7, to obtain forecasts of the price of gold in the next 5 years.
Answer to relevant QuestionsThe data file Housing Starts shows private housing units started per thousand of population in the United States over a period of 24 years. Using the data, employ the method of simple exponential smoothing with smoothing ...The data file Hourly Earnings shows manufacturing hourly earnings in the United States over 24 months. Use the Holt-Winters procedure with smoothing constants α = 0.7 and β = 0.6 to obtain forecasts for the next 3 months. The data file Trading Volume shows the volume of transactions (in hundreds of thousands) in shares of a corporation over a period of 12 weeks. Using these data, estimate a first-order autoregressive model, and use the fitted ...Explain the statement that a time series can be viewed as being made up of a number of components. Provide examples of business and economic time series for which you would expect particular components to be important. Using the data in the file Macro2010, develop an autoregressive model for imports. First, use the data for the period 1970, first quarter, through 2000, fourth quarter, to forecast for the quarters in years 2001-2003. Then ...
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