Question: Daily Spot Exchange Rate, U.S. Dollars per Pound Sterling Date Rate Date Rate Date Rate 13-Apr- 23-Apr- 1-Apr-04 1.8564 1.8160 1.7674 04 04 14-Apr-

Daily Spot Exchange Rate, U.S. Dollars per Pound Sterling Date Rate Date Rate Date Rate 13-Apr- 23-Apr- 1-Apr-04 1.8564 1.8160 1.7674 04 04 14-Apr-

Daily Spot Exchange Rate, U.S. Dollars per Pound Sterling Date Rate Date Rate Date Rate 13-Apr- 23-Apr- 1-Apr-04 1.8564 1.8160 1.7674 04 04 14-Apr- 26-Apr- 2-Apr-04 1.8293 1.7902 1.7857 04 04 15-Apr- 27-Apr- S-Apr-04 1.8140 1.7785 1.7925 04 04 16-Apr- 28-Apr- 6-Apr-04 1.8374 1.8004 1.7720 04 04 19-Apr- 29-Apr- 7-Apr-04 1.8410 1.8055 1.7751 04 04 20-Apr- 30-Apr- 8-Apr-04 1.8325 1.7914 1.7744 04 04 21-Apr- 9-Apr-04 1.8322 1.7720 3-May-04 1.7720 04 12-Apr- 22-Apr- 1.8358 1.7684 4-May-04 1.7907 04 04 13-May- 21-May- 5-May-04 1.7932 1.7584 1.7880 04 04 1 7941 14-May- 1 7572 24-May- 1 7998 6-Mav-a4 25-ay- 04 17-ay- 1.8135 7-May-04 1.7842 1.7695 04 26-May- 04 10-May- 18-May- 1.8142 1.7723 1.7695 04 04 27-May- 19-ay- 04 11-ay- 1.7827 1.8369 1.7544 04 04 12-May- 20-ay- 28-May- 1.7743 1.7710 1.8330 04 04 04 Click here for the Excel Data File (b) Perform simple exponential smoothing (using Excel's Data Analysis or other software such as Minitab) using a = .05, .10, .20, and .50. The degree of smoothing varies dramatically as a is increased. (c) Which value of a do you prefer? (Round your answers to 2 decimal places.) (d) Is exponential smoothing appropriate for this kind of data?

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