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In: Statistics and Probability

For this activity, select a recurring quantity from your OWN life for which you have monthly...

For this activity, select a recurring quantity from your OWN life for which you have monthly records at least 2 years (including 24 observation in dataset at least). This might be the cost of a utility bill, the number of cell phone minutes used, or even your income. If you do not have access to such records, use the internet to find similar data, such as average monthly housing prices, rent prices in your area for at least 2 years (You must note the data source with an accessible link). Data can also be monthly sales of some particular commodity. 1.4 Please do the descriptive analysis, using the method of index number and Exponential Smoothing individually. And try to explain the pattern you find. 1.5 Use two methods you learned to predict the value of your quantity for the next year (12 months). And make a comparison with two results.

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orchestra answered 1 year ago
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