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In: Statistics and Probability

Monthly electricity consumption data for two years is given by data2={464, 675, 703, 887, 1139, 1077,...

Monthly electricity consumption data for two years is given by
data2={464, 675, 703, 887, 1139, 1077, 1318, 1260, 1120, 963, 996,960, 530, 883, 894, 1045, 1199, 1287, 1565, 1577, 1076, 918, 1008,1061}
and it is plotted in figure below.
Forecast the next years (monthly) electricity consumption by employing an appropriate Holt-Winters method. Let α= 0:2 β= 0:1 y= 0:1: Determine
the initial values for level, trend and seasonality. Do not USE EXCELL seasonal forecasting commands. Show your intermediate results.

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orchestra answered 1 year ago
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