Consider the monthly time series shown in the table Month t Y January 1 185 February 2 192 March 3 189 April 4 201 May 5 195 June 6 199 July 7 206 August 8 203 September 9 208 October 10 209 November 11 218 December 12 216 a Use the values of Y in the table to forecast the values of Y for the next two months, using simple exponential smoothing with w 0 7 b Use the Holt model with w 0 7and v 0 7 to forecast the values of Y for the next two months

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Question: Consider the monthly time series shown in the table. Month t Y January 1 185 February 2 192 March 3 189 April 4 201 May

Consider the monthly time series shown in the table.

Month

January

185

February

192

March

189

April

201

May

195

June

199

July

206

August

203

September

208

October

209

November

218

December

216

a.Use the values of Y in the table to forecast the values of Y for the next two months, using simple exponential smoothing with w=0.7.

b.Use the Holt model with w=0.7and v=0.7 to forecast the values of Y for the next two months.

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