The following time series shows the sales of a particular product over the past 6 months. Time (months) Sales (Y) E F 1 105 2 135 3 120 4 105 5 90 6 120 7 8 Use w = 0.3 to compute the exponential smoothing values for the time series. What is the forecast for the next two months? Graph initial and smoothed time series. Does your forecast seem to be reasonable? Explain your answer.
The following time series shows the sales of a particular product over the past 6 months. Time (months) Sales (Y) E F 1 105 2 135 3 120 4 105 5 90 6 120 7 8 Use w = 0.3 to compute the exponential smoothing values for the time series. What is the forecast for the next two months? Graph initial and smoothed time series. Does your forecast seem to be reasonable? Explain your answer.
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.CR: Chapter Review
Problem 12CC
Related questions
Question
The following time series shows the sales of a particular product over the past 6 months.
|
Time (months) |
Sales (Y) |
E |
F |
|
1 |
105 |
|
|
|
2 |
135 |
|
|
|
3 |
120 |
|
|
|
4 |
105 |
|
|
|
5 |
90 |
|
|
|
6 |
120 |
|
|
|
7 |
|
|
|
|
8 |
|
|
|
- Use w = 0.3 to compute the exponential smoothing values for the time series.
- What is the forecast for the next two months?
- Graph initial and smoothed time series.
- Does your forecast seem to be reasonable? Explain your answer.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 5 images
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
- You gave a forecast only for 1 month !!! Based on the task 2 month needed
- Graph initial and smoothed time series.
- Does your forecast seem to be reasonable? Explain your answer.
Solution
by Bartleby ExpertRecommended textbooks for you
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Intermediate Algebra
Algebra
ISBN:
9781285195728
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning