Please show work The unemployment rates in the United States during A ten year period is...

Please show work

The unemployment rates in the United States during

A ten year period is given in the following table. Use exponential smoothing to find the best forecast for next year. Use smoothing constants of 0.2, 0.4, 0.6, and 0.8. Which one had the lowest MAD?

Unemployment Rates Over Ten Years
YEAR	1	2	3	4	5	6	7	8	9	10

Unemployment	7.2	7.0	6.2	5.5	5.3	5.5	6.7	7.4	6.8	6.1
rate (%)

Solutions

Expert Solution

Forecasting for exponential smoothing St = alpha * Xt + (1 - alpha) * St-1

Lowest MAD is for 0.8 smoothing constant.

orchestra answered 11 months ago

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