Consider the following sample data, consisting of 20 observations. a. Plot the above series and discuss the
Question:
Consider the following sample data, consisting of 20 observations.
a. Plot the above series and discuss the presence of random variations.
b. Use the exponential smoothing method to make forecasts with α = 0.2. Compute the resulting MSE and MAD.
c. Repeat the process with α = 0.4.
d. Use the appropriate value of α to make a forecast for period 21.
Transcribed Image Text:
1 2345 678 910 12.9 12.6 11.1 14.8 11.9 12.9 12.1 13.6 11.9 9.0 11 12 13 14 15 16 17 18 19 20 8.9 9.3 13.3 10.7 13.5 15.1 11.3 13.6 12.4 13.0 Yt Yt
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a The jagged appearance of the series graph suggests the presence of a rand...View the full answer
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Related Book For
Business Statistics Communicating With Numbers
ISBN: 9780078020551
2nd Edition
Authors: Sanjiv Jaggia, Alison Kelly
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