Question

In: Statistics and Probability

a) Use α = 0.2 to compute the exponential smoothing forecasts for the time series.

Consider the following time series data.

Week 1 2 3 4 5 6
Value 18 11 13 10 14 12


a) Use α = 0.2 to compute the exponential smoothing forecasts for the time series.

Week Time Series
Value
Forecast
1 18
2 11 ?
3 13 ?
4 10 ?
5 14 ?
6 12 ?

Compute MSE. (Round your answer to two decimal places.)

MSE =

What is the forecast for week 7? (Round your answer to two decimal places.)

Forecast=?

(e)Use a smoothing constant of α = 0.4 to compute the exponential smoothing forecasts.

Week Time Series
Value
Forecast
1 18
2 11 ?
3 13 ?
4 10 ?
5 14 ?
6 12 ?

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