The total number of thousands of tons of coal produced per year over a 10-year period for a certain region is provided in the accompanying dataset. Use double exponential smoothing to determine which pairs of values for α and minimize MAD for this dataset. α=0.2, β=0.8; α=0.4, β=0.3; α=0.9, β=0.7 Which pair of values for α and β minimize MAD for this dataset? α=enter your response here and β=enter your response here (Type integers or decimals. Do not round.) Year Coal Production (thousands of tons) 1 434,325 2 420,421 3 439,039 4 477,196 5 504,186 6 526,958 7 546,817 8 564,876 9 556,711 10 570,977
The total number of thousands of tons of coal produced per year over a 10-year period for a certain region is provided in the accompanying dataset. Use double exponential smoothing to determine which pairs of values for α and minimize MAD for this dataset. α=0.2, β=0.8; α=0.4, β=0.3; α=0.9, β=0.7 Which pair of values for α and β minimize MAD for this dataset? α=enter your response here and β=enter your response here (Type integers or decimals. Do not round.) Year Coal Production (thousands of tons) 1 434,325 2 420,421 3 439,039 4 477,196 5 504,186 6 526,958 7 546,817 8 564,876 9 556,711 10 570,977
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 27P: The file P13_27.xlsx contains yearly data on the proportion of Americans under the age of 18 living...
Related questions
Question
5, The total number of thousands of tons of coal produced per year over a 10-year period for a certain region is provided in the accompanying dataset. Use double exponential smoothing to determine which pairs of values for α and minimize MAD for this dataset.
α=0.2, β=0.8; α=0.4, β=0.3; α=0.9, β=0.7
Which pair of values for α and β minimize MAD for this dataset?
α=enter your response here and β=enter your response here
(Type integers or decimals. Do not round.)
Year
|
Coal Production
(thousands of tons)
|
|
---|---|---|
1
|
434,325
|
|
2
|
420,421
|
|
3
|
439,039
|
|
4
|
477,196
|
|
5
|
504,186
|
|
6
|
526,958
|
|
7
|
546,817
|
|
8
|
564,876
|
|
9
|
556,711
|
|
10
|
570,977
|
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 5 steps with 6 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,