Question: Analyze the earnings rate using the exponential smoothing model -Create an exponential smoothing model that minimizes the MSE for the data set. Use solver to

Analyze the earnings rate using the exponential smoothing model

-Create an exponential smoothing model that minimizes the MSE for the data set. Use solver to determine the optimal value of alpha. What are the forecast for the next two years using this technique?

Weekly and hourly earnings data from the Current Population Survey

Year Period Label Observation Value
2010 Q01 2010 Qtr1 787
2010 Q02 2010 Qtr2 774
2010 Q03 2010 Qtr3 780
2010 Q04 2010 Qtr4 788
2011 Q01 2011 Qtr1 791
2011 Q02 2011 Qtr2 794
2011 Q03 2011 Qtr3 798
2011 Q04 2011 Qtr4 805
2012 Q01 2012 Qtr1 815
2012 Q02 2012 Qtr2 821
2012 Q03 2012 Qtr3 803
2012 Q04 2012 Qtr4 823
2013 Q01 2013 Qtr1 827
2013 Q02 2013 Qtr2 828
2013 Q03 2013 Qtr3 820
2013 Q04 2013 Qtr4 835
2014 Q01 2014 Qtr1 837
2014 Q02 2014 Qtr2 831
2014 Q03 2014 Qtr3 839
2014 Q04 2014 Qtr4 847
2015 Q01 2015 Qtr1 856
2015 Q02 2015 Qtr2 852
2015 Q03 2015 Qtr3 857
2015 Q04 2015 Qtr4 872
2016 Q01 2016 Qtr1 878
2016 Q02 2016 Qtr2 880
2016 Q03 2016 Qtr3 886
2016 Q04 2016 Qtr4 896
2017 Q01 2017 Qtr1 908
2017 Q02 2017 Qtr2 909
2017 Q03 2017 Qtr3 909
2017 Q04 2017 Qtr4 902
2018 Q01 2018 Qtr1 922
2018 Q02 2018 Qtr2 928
2018 Q03 2018 Qtr3 934
2018 Q04 2018 Qtr4 946
2019 Q01 2019 Qtr1 954
2019 Q02 2019 Qtr2 960
2019 Q03 2019 Qtr3 975
2019 Q04 2019 Qtr4 984
2020 Q01 2020 Qtr1 1000
2020 Q02 2020 Qtr2 1046

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