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 7.55 a. Construct a time series plot. What type of pattern exists in the data?b. Use trial and error to find a value of the exponential smoothing coefficient a thatresults in a relatively small MSE.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 42P: The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars)...
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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 7.55

a. Construct a time series plot. What type of pattern exists in the data?
b. Use trial and error to find a value of the exponential smoothing coefficient a that
results in a relatively small MSE.

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