In: Statistics and Probability
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 | ? |