[Steps Shown] Ten weeks of data on the Commodity Futures Index are 7.35, 7.40, 7.55 7.56 7.60, 7.52, 7.52, 7.70, 7.62, and 7.55. Construct a time series plot.
Question: Ten weeks of data on the Commodity Futures Index are 7.35, 7.40, 7.55 7.56 7.60, 7.52, 7.52, 7.70, 7.62, and 7.55.
- Construct a time series plot. What type of pattern exists in the data?
- Use trial and error to find a value of the exponential smoothing coefficient alpha that results in a relatively small MSE.
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