Please answer part C Jng is mUre accurate, sinee itS MSE caleulated over all of the rorecasted months is smaller than the MSE using the three-month movingaverage.O The three-month moving average is more accurate, since its MSE is larger than the MSE for exponential smoothing calculated over all of the forecasted mor(c) What is the forecast for the next month (in millions of dollars) using exponential smoothing with a = 0.2? (Round your answer to two decimal places.)$4million (b) Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. (Round your answers to two decimal places.)Time SerlesValue(In $ millions)3-Month MovingAverage Forecast(In $ millons)a = 0.2MonthForecast(In $ millions)24035024032302624260273.33255.6280280256.486320256.67261.18220286.67272.958310273.33262.369240283.33271.8910310256.67265.5111240286.67274.4112230263.33267.53

Data for time series value is given according to months We have to calculate forcast for next month…

Answered: (c) What is the forecast for the next…

(c) What is the forecast for the next month (in millions of dollars) using exponential smoothing with a = 0.2? (R million

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter4: Exponential Functions

Section4.1: Exponential Growth And Decay

Problem 16SBE: Exponential Growth Is the graph of exponential growth versus time increasing or decreasing?

See similar textbooks

Related questions

Q: If the standard deviation of hole diameter exceeds 0.01 millimeters, there is an unacceptably high p...

A: In this test, checking whether the standard deviation of hole diameter exceeds 0.01 millimeters.

Q: A consumer products company is formulating a new shampoo and is interested in foam height (in millim...

A: Given,sample size(n)=10population standard deviation(σ)=20H0:μ=175H1:μ>175

Q: Days Sick Monday 365 Tuesday 270 Wednesday 300 Thursday 300 F...

A: Chi-square test : Pearson's chi-squared test and its variants Pearson's chi-squared test is used to ...

Q: A machine produces metal axels used in an auto-mobile suspension system. A random sample of 15 axels...

A: For the above data set,

Q: A national survey found that 46% of adults ages 25-29 had only a cell phone and no landline. Suppose...

A: Givenp=0.46n=4Let "x" be the no.of adults have only a cell phones and no landline x~Binomial(n=4,p=0...

Q: The mean height of 25 male workers in a factory is 61 inches and the mean height of 35 female worker...

A: Given,n1=25 , x¯1=61n2=35 , x¯2=58

Q: These are all related to permutations, so I hope all three can be answered per your ruling. Thanks! ...

A: The three scenarios are given. We have to find relative permutations for all scenarios.

Q: Find the z-scores that separate the middle 24% of the distribution from the area in the tails of the...

Q: For a sales promotion, the manufacturer places winning symbols under the caps of 29% of all its soda...

Q: To test the desirability of a certain modification in typists, desks, 9 typists: were given two test...

A: Given: Sample size (n) = 9 d(difference) 2 4 0 3 -1 4 -3 2 5 Assumed level ...

Q: Calculate the value of mean of the population as well as the standard deviation of the population b...

A: Here as per policy i have calculated 3 subparts Here given 5 elements in population

Q: Calculate the coefficient of correlation between age 'of cars and annual maintenance cost and commen...

Q: Exercise L.L. Assume that z has a standard normal distribution. Determine the value of z for each of...

A: The standard normal variable is z, which follows the normal distribution with the mean of 0 and stan...

Q: The probability density function of the time you arrive at a terminal (in minutes after 8:00 a.m.) i...

A: Solution-: We have following density function f(x)=117e-x17 for 0<x Determine the following pro...

Q: Compute by Fisher's Index Formula, the quantity index from the data given below : Commouity Price Va...

Q: Part II: Consider a following absorbing Markov chain. 1 0.05 0.95 0.27 0.73 1 Find the matrices A an...

A: Given:

Q: Suppose Yı and Y2 are random variables with joint pdf fr,x,V1.Y2) = { o. S6(1 – y2), 0 < y1 < y2 oth...

Q: This is the actual relationship between people's ages and jaw bone lengths. A) What specification wo...

A: Given:

Q: If Z is a random variable from a standard normal distribution and if P(Z < d) = 0.65, then P(Z < - d...

A: Let Z be the random variable from standard normal distribution with mean = 0 and standard deviation ...

Q: (c) Use the binomial probability formula to determine the P-value for this test. P-value = (Round to...

Q: Exercise 4.3. In a 100-item test administered to 450 Grade 11 students, the following data were obta...

A: Number of students(N)=450 We have to find out: a- Number of students getting scores 75 and above b- ...

Q: For items 8-15, suppose four students are selected at random from the gathered date. Let C be the ra...

A: 8) total sample points generated will be 24= 16 9) The values of the random variable C is 0,1,2,3,4

Q: QUESTION 6 A researcher believes that 25% of U.S. adult workers are satisfied with their jobs. To te...

A: Given : Claim : 25% of U.S adult workers are satisfied with their jobs Sample size (n) = 410 Let X :...

Q: 2. In a study of inter spousal aggression and its possible effect on child behavior, the Behavior Pr...

Q: In a clinical trial, 25 out of 852 patients taking a prescription drug daily complained of flulike s...

A: Given : n = 852 X = 25

Q: From 5 statisticians and 6 economists, a committee of size 6 is to be formed. How many different com...

A: Note- Since you have posted a question with multiple sub-parts, we will solve the first three sub-pa...

Q: Assume that the scores of a college entry exam are normally distributed with a mean of 400 and a sta...

A: Given,mean(μ)=400standard deviation(σ)=60

Q: In a given year, the average score on the Mathematics portion of the ACT for males was 21.3 with sta...

A: Given that The standard error is calculated by using the formula below

Q: Suppose X has a continuous uniform distribution over the interval [1.4, 6.0]. Round your answers to ...

Q: Rolling a fair six-sided die is supposed to randomly generate the numbers 1 through 6. Explain what ...

A: Given,Rolling a fair six-sided die is supposed to randomly generate the numbers 1 through 6 .

Q: : The probability that an entering college student will graduate is 0.4. Determine the probability t...

Q: 2. The following are the scores of two groups of students who took the make-up test in Statistics Gr...

A: The scores of group A and group B of students are given. We have to find coefficient of variation.

Q: The mean height of 25 male workers in a factory is 61 inches and the mean height of 35 female worker...

Q: out 69.776 year olds consur ow consider a random sample of fifty 18-20 year olds.

A: Given: Random sample, n = 50 About 69.7% of 18-20 year olds consumed alcoholic beverages

Q: The Department of Health is conducting random drug testing in a barangay in relation to their age. h...

A: Note: Hi there! Thank you for posting the question. As your question has more than 3 parts, we have ...

Q: A particular brand of trans-fat butter was analyzed to determine the level of polyunsaturated fatty ...

Q: Let S={1,2,3,...,18,19,20}S={1,2,3,...,18,19,20} be the universal set. Let sets A and B be subsets ...

Q: The following data give the hardness (X) and Find tensile strength (Y) of 7 samples of a metal in ce...

Q: Tollowing data on clothing prices, show that the arithmetic mean of relatives (unweighted) does not ...

Q: You work for the U.S. F0od and Drug Administration. You have gotten word that a drug manufacturing i...

A: For the given data construct 94% confidence interval

Q: Given a standard normal distribution (except c), determine what is asked: a) The area under the cu...

Q: We wish to estimate what percent of adult residents in a certain county are parents. Out of 200 adul...

A: We wish to estimate what percent of adult residents in a certain county are parents. Out of 200 adul...

Q: Determine whether A and B are independent, positively associated or negatively associated in each of...

Q: recasts and actual sales of MP3 players at Just Say Music are as follows: Month Forecast Actual Sale...

A: Exponential Smoothing A quantitative forecasting method that uses a weighted average of past time-se...

Q: Counselors at a college want to poll students about how much time the students spend studying. Which...

A: Systematic sampling: When the population units occur in a sequence or pattern and a sample of size n...

Q: 1. Here is a histogram of raw scores from a population (mean = 12, standard deviation = 10): Here is...

A: In this case, the central limit theorem (CLT) is to be interpreted to approximate the distribution o...

Q: The time between calls is exponentially distributed with a mean time between calls of 9 minutes. (a)...

Q: 1. Let X denote the time in hours needed to locate and correct a problem in the software that govern...

Q: 402 360 389 364 415 375 367 409 362 358 (a) Assuming that shear strength is normally distributed, es...

A: Given: x 402 360 389 364 415 375 367 409 362 358

Q: The article "Probabilistic Risk Assessment of Infrastructure Networks Subjected to Hurricanes"t sugg...

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for yo...

Question

100%

Please answer part C

Jng is mUre accurate, sinee itS MSE caleulated over all of the rorecasted months is smaller than the MSE using the three-month moving
average.
O The three-month moving average is more accurate, since its MSE is larger than the MSE for exponential smoothing calculated over all of the forecasted mor
(c) What is the forecast for the next month (in millions of dollars) using exponential smoothing with a = 0.2? (Round your answer to two decimal places.)
$4
million

(b) Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. (Round your answers to two decimal places.)
Time Serles
Value
(In $ millions)
3-Month Moving
Average Forecast
(In $ millons)
a = 0.2
Month
Forecast
(In $ millions)
240
350
240
3
230
262
4
260
273.33
255.6
280
280
256.48
6
320
256.67
261.18
220
286.67
272.95
8
310
273.33
262.36
9
240
283.33
271.89
10
310
256.67
265.51
11
240
286.67
274.41
12
230
263.33
267.53

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

Sales of a video game released in the year 2000 took off at first, but then steadily slowed as time moved on. Table 4 shows the number of games sold, in thousands, from the years 20002010. a. Let x represent time in years starting with x=1 for the year 2000. Let y represent the number of games sold in thousands. Use logarithmic regression to fit a model to these data. b. If games continue to sell at this rate, how many games will sell in 2015? Round to the nearest thousand.
The fox population in a certain region has an annualgrowth rate of 9 per year. In the year 2012, therewere 23,900 fox counted in the area. What is the foxpopulation predicted to be in the year 2020 ?
The Decibel scale Exercise S-7 through S-10 refer to the decibel scale. If one sound has a relative intensity one-tenth that of another, how do their decibel levels compare?
Enter the data from Table 2 into a graphing calculator and graph the ranking scatter plot. Determine whetherthe data from the table would likely represent a function that is linear, exponential, or logarithmic.
Exponential Growth Is the graph of exponential growth versus time increasing or decreasing?
What might a scatterplot of data points look like if it were best described by a logarithmic model?