Statistics Solutions

(Steps Shown) Following are time-series data for eight different periods. Use exponential smoothing to forecast the values for periods 3 through 8. Use

Question: Following are time-series data for eight different periods. Use exponential smoothing to forecast the values for periods 3 through 8. Use the value for the first period as the forecast for the second period. Compute forecasts using two different values of alpha, a = .1 and a = .8. Compute the errors for each forecast and compare the errors produced by using the two different exponential smoothing constants.

Time Period Value Time Period Value
1 211 5 242
2 228 6 227
3 236 7 217
4 241 8 203

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document


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