Question: Exponential smoothing forecast equation. We have learned that the exponential smoothing forecast equation is written as y t 5 wyt21 1 s1 2 wdy t21

Exponential smoothing forecast equation. We have learned that the exponential smoothing forecast equation is written as y⁄

t 5 wyt21 1 s1 2 wdy⁄

t21

(a) Show that the equation can be written as y⁄

t 5y⁄

t21 1 wet21 where et21 is the residual, or prediction error, for period t 2 1.

(b) Explain in words how the reexpressed equation can be interpreted.

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