[6] The temperature in Chicago has been recorded for the past seven days. You are given...

 

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[6] The temperature in Chicago has been recorded for the past seven days. You are given the information below. [16%, 4% EACH] Day 1 2 3 4 5 6 7 Temperature 82 80 84 83 80 79 82 a. Produce exponential smoothing forecasts for the series using a smoothing constant of 0.2. b. Compute the mean square error for the forecasts produced with a smoothing constant of 0.2. C. What is the forecasted temperature for day 8? d. Is a smoothing constant of 0.2 or 0.3 better for the temperature data? Explain. [6] The temperature in Chicago has been recorded for the past seven days. You are given the information below. [16%, 4% EACH] Day 1 2 3 4 5 6 7 Temperature 82 80 84 83 80 79 82 a. Produce exponential smoothing forecasts for the series using a smoothing constant of 0.2. b. Compute the mean square error for the forecasts produced with a smoothing constant of 0.2. C. What is the forecasted temperature for day 8? d. Is a smoothing constant of 0.2 or 0.3 better for the temperature data? Explain.

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Day Temperature F 1 82 2 80 3 84 4 83 5 80 6 79 7 82 Tasks aProduce exponential smoothing forecasts ... View the full answer