Using the accompanying table, determine the most appropriate forecasting technique for the accompanying data about the Dow
Question:
Using the accompanying table, determine the most appropriate forecasting technique for the accompanying data about the Dow Jones Industrial Average yearly closing value and implement the model.
Year Close
1983 1258.64
1984 1211.57
1985 1546.67
1986 1895.95
1987 1938.83
1988 2168.57
1989 2753.20
1990 2633.66
1991 3168.83
1992 3301.11
1993 3754.09
1994 3834.44
1995 5117.12
1996 6448.27
1997 7908.25
1998 9181.43
1999 11497.12
2000 10786.85
2001 10021.50
2002 8341.63
2003 10453.92
2004 10783.01
2005 10717.50
2006 12463.15
2007 13264.82
2008 8776.39
2009 10428.05
2010 11557.50
2011 12217.60
2012 13104.10
Use the model forecast the closing value for 2017.
Use α=0.7, β=0.2, and γ=0.8, as needed.
F2017= ?
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds