Basic Business Statistics (13th Edition)
13th Edition
ISBN: 9780321870025
Author: Mark L. Berenson, David M. Levine, Kathryn A. Szabat
Publisher: PEARSON
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Textbook Question
Chapter 16, Problem 1PS
If you are using exponential smoothing for forecasting an annual time series of revenues, what is your forecast for next year if the smoothed value for this year is
Expert Solution & Answer
To determine
State the forecasted value for the next year.
Answer to Problem 1PS
The forecasted value for the next year is
Explanation of Solution
Exponentially smoothing is a weighted average cost of all the previous time periods. Therefore, the smoothed value in the current time period works as the forecast of the value in the following year.
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Chapter 16 Solutions
Basic Business Statistics (13th Edition)
Ch. 16 - If you are using exponential smoothing for...Ch. 16 - Consider a nine-year moving average used to smooth...Ch. 16 - Prob. 3PSCh. 16 - Prob. 4PSCh. 16 - Prob. 5PSCh. 16 - How have stocks performed in the past? The...Ch. 16 - Prob. 7PSCh. 16 - Prob. 8PSCh. 16 - Prob. 9PSCh. 16 - Prob. 10PS
Ch. 16 - The linear trend forecasting equation for an...Ch. 16 - Prob. 12PSCh. 16 - Prob. 13PSCh. 16 - Prob. 14PSCh. 16 - The file ComputerSales contains the U.S. total...Ch. 16 - Prob. 16PSCh. 16 - The file CarProduction contains the number of...Ch. 16 - The average salary of Major League Baseball player...Ch. 16 - Prob. 19PSCh. 16 - Prob. 20PSCh. 16 - Prob. 21PSCh. 16 - Prob. 22PSCh. 16 - You are given an annual time series with 40...Ch. 16 - Prob. 24PSCh. 16 - Prob. 25PSCh. 16 - Prob. 26PSCh. 16 - Using the data for Problem 16.15 on page 646 that...Ch. 16 - Prob. 28PSCh. 16 - Prob. 29PSCh. 16 - Using the average baseball salary from 2000...Ch. 16 - Prob. 31PSCh. 16 - The following residuals are from a linear trend...Ch. 16 - Prob. 33PSCh. 16 - Prob. 34PSCh. 16 - Prob. 35PSCh. 16 - Prob. 36PSCh. 16 - Prob. 37PSCh. 16 - Using the average baseball salary from 2000...Ch. 16 - Prob. 39PSCh. 16 - Prob. 40PSCh. 16 - In forecasting daily time-series data, how many...Ch. 16 - Prob. 42PSCh. 16 - Prob. 43PSCh. 16 - The data in Toys R Us are quarterly revenues...Ch. 16 - Prob. 45PSCh. 16 - Prob. 46PSCh. 16 - Prob. 47PSCh. 16 - The file Silver-Q contains the price in London for...Ch. 16 - Prob. 49PSCh. 16 - What is a time series?Ch. 16 - What are the different components of a time-series...Ch. 16 - What is the difference between moving average and...Ch. 16 - Prob. 53PSCh. 16 - How does the least-squares linear trend...Ch. 16 - How does autoregressive modelling differ from the...Ch. 16 - What are the different approaches to choosing an...Ch. 16 - What is the major difference between using SYX and...Ch. 16 - How does forecasting for monthly or quarterly data...Ch. 16 - Prob. 60PSCh. 16 - Prob. 61PSCh. 16 - The data in the following table, stored in...Ch. 16 - Teachers' Retirement System of the City of New...Ch. 16 - Prob. 64PS
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