Use Holts method to create a model that minimizes the MSE for the data set Use Solver to determine the optimal values of and a What are the optimal values of and b Prepare a line graph comparing the predictions from Holts method versus the original data c What are the forecasts for the next two years using this technique

Question: Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to determine the optimal values of and

Use Holt’s method to create a model that minimizes the MSE for the data set. Use Solver to determine the optimal values of α and β.

a. What are the optimal values of α and β?

b. Prepare a line graph comparing the predictions from Holt’s method versus the original data.
c. What are the forecasts for the next two years using this technique?

Step by Step Solution

★★★★★

3.31 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a The optimal values of and are 09 and 02 respectively The optimal values of and are determined by u... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Practical Management Science Questions!

Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to determine the optimal values of and . a. What are the optimal values of and ? b. Prepare a line graph...

Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to estimate the optimal values of and . a. What are the optimal values of and ? b. Prepare a line graph...

Use Holts method to create a model that minimizes the MSE for the data set. Use Solver to estimate the optimal values of and . a. What are the optimal values of and ? b. Are these values...

Use Holt's method to create a model that minimizes the MSE for the data set. Use Solver to determine the optimal values of a and . A.What are the optimal values of and ? B. Prepare a line graph...

help me with Question number 38 and 39 Questions and Problems d. What are the forecasts for each of the first six months in 2014 using this techniques 611 quadratic trend model. . Calculate...

Time Year Month Period Claims 2012 1 1 $10,159 2 2 $11,175 3 3 $12,310 4 4 $12,446 5 5 $13,213 6 6 $16,412 7 7 $17,405 8 8 $14,233 9 9 $14,606 10 10 $12,969 11 11 $13,980 12 12 $14,755 2013 1 13...

This is the data set: Year Sales 1 283 2 288 3 336 4 388 5 406 6 412 7 416 8 435 9 428 10 435 11 462 12 452 13 474 14 476 15 497 16 487 17 523 18 528 19 532 20 552 Use Holt's method to create a model...

The following data are the number of milliseconds it takes for children who are 9, 13, or 17 years of age to decide if a stimulus on a target card appeared previously on a memory card, when the...

Choose any three organizations of your own choice and discuss their best practices.

You are offered $ 1 2 0 , 0 0 0 today or $ 3 8 0 , 0 0 0 in 1 2 years. Assuming that you can earn 1 6 percent on your money, which should you choose? Part 1 If you are offered $ 3 8 0 , 0 0 0 in 1 2...

Look at how people treat separate individuals as a single entity in balance-process perceptions, especially in negative balance states.

A professor of engineering economics owns a 1996 automobile. In the past 12 months, he has paid $2000 to replace the transmission, bought two new tires for $160, and installed a new tape deck for...

The Ajax Corporation purchased a railroad tank car 8 years ago for $60,000. It is being depreciated by SOYD depreciation , assuming a 10-year depreciable life and a $7000 salvage value . The tank car...

The Quick Manufacturing Company, a large profitable corporation, is considering the replacement of a production machine tool. A new machine would cost $3700, have a 4-year useful and depreciable...

If the nominal rate of return on a risky security is 9 percent, and the risk-free rate is 4.9 percent, what is the risk premium? 7.48%4.10%3.91%2.24% QUESTION 9 The rate of interest on a financial...

A student loan is offered under the following conditions: credit of 3 0 , 0 0 0 euros at 3 % over a period of 6 years contracted on June 1 , 2 0 2 0 ; no repayment or interest payments for 2 years;...

A proposed bridge on the interstate highway is being considered at the cost of 15 million dollars. It is expected that the bridge will have a life of 30 years. Construction costs will be paid by...