Consider Table 16.13. Verify (calculate) that S 3 , an estimate made in period 3 of
Question:
Consider Table 16.13. Verify (calculate) that S3, an estimate made in period 3 of β0, is 359.276. Also verify (calculate) that the one-period-ahead forecast error for period 4 is -62.276, as shown in Table 16.13.
Data from Table 16.13
Transcribed Image Text:
FIGURE 16.13 MINITAB Output of Using Simple Exponential Smoothing to Forecast the Cod Catches (a) The graphical forecasts Cod Catch Single Exponential Smoothing Plot for CodCatch 420 400- 380- 360- 340 320- 300- 280- 260 T 4 AAAAA T T 8 12 16 20 24 28 32 36 Time Forecasts Period Forecast 25 Lower 348.168 276.976 Variable Actual Fits Upper 419.360 -- Forecasts ▲ - 95.0% PI Smoothing Constant Alpha 0.0703909 Accuracy Measures MAPE (b) The numerical forecasts of the cod catch in month 25 (and any other future month) MAD MSD 8.45 29.06 1177.39
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Related Book For
Business Statistics In Practice
ISBN: 9780077534844
7th Edition
Authors: Bruce Bowerman, Richard OConnell, Emilly Murphree
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