Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7. Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. which appears to provide better forecast based on MSE? Explain. 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 = 0.2.
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7. Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. which appears to provide better forecast based on MSE? Explain. 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 = 0.2.
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...
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- Consider the following time series data.
Week |
1 |
2 |
3 |
4 |
5 |
6 |
Value |
18 |
13 |
16 |
11 |
17 |
14 |
- Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7.
- Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. which appears to provide better forecast based on MSE? Explain.
- 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 = 0.2.
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