(b) Use a - 0.1 to compute the exponential smoothing values for the time series. (Round your answers to four decimal places.) Time Series Value Month t Forecast F, 1. 105 135 120 4 105 5 90 120 145 8 140 9. 100 10 80 11 100 12 110
(b) Use a - 0.1 to compute the exponential smoothing values for the time series. (Round your answers to four decimal places.) Time Series Value Month t Forecast F, 1. 105 135 120 4 105 5 90 120 145 8 140 9. 100 10 80 11 100 12 110
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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Please answer part b and c
Transcribed Image Text:The following time series shows the sales of a particular product over the past 12 months.
Month
Sales
105
135
120
4
105
90
120
145
8
140
100
10
80
11
100
12
110
3.
Transcribed Image Text:(b)
Use a = 0.1 to compute the exponential smoothing values for the time series. (Round your answers to four decimal places.)
Time Series Value
Month t
Forecast F,
1
105
135
3
120
4
105
90
120
145
8
140
9.
100
10
80
11
100
12
110
(c) Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.1.
a =
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