Ten weeks of data on the Commodity Futures Index are: 7.35 7.40 7.55 7.56 7.60 7.52 7.
Question:
7.35 7.40 7.55 7.56 7.60 7.52 7. 52 7.70 7.62 7.55
a. Construct a time series plot. What type of pattern exists in the data?
b. Use trial and error to find a value of the exponential smoothing coefficient a that results in a relatively small MSE.
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a The data appear to follow a horizontal pattern b The MSE values for exponential smoothing forecas...View the full answer
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Related Book For
Essentials of Business Analytics
ISBN: 978-1285187273
1st edition
Authors: Jeffrey Camm, James Cochran, Michael Fry, Jeffrey Ohlmann, David Anderson, Dennis Sweeney, Thomas Williams
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