The data in the table below are the amounts of crude oil (millions of barrels) imported into
Question:
The data in the table below are the amounts of crude oil (millions of barrels) imported into the United States from the Organization of Petroleum Exporting Countries (OPEC) for the years 1995-2015.
a. Construct two exponentially smoothed series for this time series, using w = .1 and w = .9.
b. Plot the original series and the two smoothed series on the same graph. Which smoothed series looks more like the original series? Why?
Transcribed Image Text:
Imports, Y; Year 1995 1996 1997 1998 1999 1 1544 1541 3 4 1668 1790 1808 1904 2018 1681 1884 2086 2039 2000 2001 2002 2003 2004 2005 6. 8. 10 11 2006 2007 2008 2009 2010 12 13 14 15 16 2014 2183 2179 1743 1791 2011 2012 17 18 19 20 21 1663 1563 1358 1181 1058 2013 2014 2015
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a The exponentially smoothed imports for the first period is equal to the imports that period For th...View the full answer
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Related Book For
Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich
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