End of Section Problem 15.6 Following are time-series data for eight different p

Question

End of Section Problem 15.6 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, ? = .1 and ? = .8·Compute the errors for each forecast and compare the errors produced by using the two different exponential smoothing constants. (Round your answers to 1 decimal place.) Forecast error ( ". 1) Value 1 211 228 236 241 242 227 217 203 Time Period Forecast (rr.. 1) ? Value- Forecast LINK TO TEXT

Explanation / Answer

as forecast =last month actual*alpha+last month forecast*(1-alpha)

1)fr alpha =0.1

2)

for alpha=0.8

time period value forecast error 1 211 2 228 211.0 17.0 3 236 212.7 23.3 4 241 215.0 26.0 5 242 217.6 24.4 6 227 220.1 6.9 7 217 220.8 -3.8 8 203 220.4 -17.4

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.