(a)Under what situations additive winter exponential smoothing method is used for forecasting.(b)Write down the updating equation for level and seasonal components when there is no trend in theerror correction form and the model is additive.(c) Write the equation for making two steps ahead forecast made at time Twhen there is no trend andmodel is additive.

Exponential smoothing is a time series prediction with univariate data that smooths out data to make…

Answered: (a)Under what situations additive…

Math

Statistics

(a)Under what situations additive winter exponential smoothing method is used for forecasting.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...

See similar textbooks

Related questions

Q: Question Four: ABC Company sells home appliances. Daily sales for a six-day period were as follows:…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three subparts…

Q: The program manager wants to forecast conference attendees. Based on the following historical data,…

A: The following information has been given: Year Total Enrollment 1 2950 2 2200 3 2000 4…

Q: With the gasoline time series data from the given table, show the exponential smoothing forecasts…

Q: An analysis of past seasonal fluctuations can be helpful in planning production for items such as…

A: Given statement An analysis of past seasonal fluctuations can be helpful in planning production for…

Q: a) Suppose that a time series appears to exhibit a sudden major shift in pattern, how could you…

A: INTRODUCTION : the straight-line trend is given by the equation yt = a+bX the normal equations for…

Q: a)Outline the diffences between simple, double and triple exponential smoothing? b) Consider the…

A: Exponential smoothing of time series data assigns exponentially decreasing weights for newest to…

Q: Ten weeks of data on the commodity Futures Index are 7.35, 7.4, 7.55, 7.56, 7.6, 7.52, 7.52, 7.7,…

A: Formula Used: Ft+1=Ft+α(At-Ft)Ft+1=αAt+(1-α)Ft We use second formula to calculate exponential…

Q: Illustrate the formulation of dynamic causal effects in time series data?

A: The effect of a change in X over time on Y is a dynamic causal effect. It is useful to think of a…

Q: Discuss the cause of Heteroskedasticity in regression analysis

A: . Heteroskedasticity: It shows unequal variability in the predictor variables. Cause of occurrence…

Q: Given an actual demand of 69, a previous forecast of 64, and an alpha of .2, what would the forecast…

A: Given Actual demand=69 Previous forecast=64 Alpha=0.2

Q: Suppose a time-series plot shows that the data in question exhibit an increasing trend along with a…

A: Given Suppose a time series plot shows that the data in question exhibit an increasing trend along…

Q: Using an initial forecast of 22 units and an alpha of 0.25, the exponential smoothing forecast for…

A: The exponential smoothing forecast formula is, Ft=αYt-1+1-αFt-1 In the formula, α is the smoothing…

Q: Question 2 The following table contains yearly data on the price of chicken from 2019 to 2021: Price…

A: 1. Using the three year moving average method, the forecast for price in 2022 will be the average…

Q: Question No.2: How much population is increased from one decade to the other decade from the given…

Q: For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12…

A: Given Information: For the Hawkins Company, the monthly percentages of all shipments received on…

Q: Example 20.2 Using the data given in Table 20.2, calculate the price index for year 2, the base year…

Q: Problem #3c: Develop a forecast for December using exponential smoothing model with a = 0.3.

A: From the given information we forecast for December

Q: A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales dur-…

Q: Question 5 Suppose you are thinking about investing in three stocks, X. Y and Z You consider three…

A: We have given three stocks and three different status of economy and for each status of economics…

Q: If the past data shows a linear trend, regression analysis is used to fit this trend to the time…

A: Here we want to know the given statement is true or not.

Q: Question 7 7.1 Consider the following quarterly demand levels for electricity (1000 megawatts) in…

Q: In 2005, Xerox Corporation's revenue from color products and services was $4.6 billion, or 30%of…

A: Solution: This exponential smoothing is performed on Microsoft Excel. a) Step 1 : Open the…

Q: Annual profit of a company (in million taka) are given below. Year 2010 2011 2012 2013 2014 2015…

A: Exponential smoothing forecast method is used to forecast the immediate future values. Exponential…

Q: Passenger miles fown on Northeast Airlines, a commuter ferm serving the Boston hub, are shown for…

A: Forecasting

Q: Example 18.12 Fit a straight line trend by the method of least square to the following data : Year…

A: Given, Production( in tonnes) for 6 years from 1991 to 1996

Q: The values of Alabama building contracts (in $ millions) for a 12 -month period follow. 240 350…

A: The values of Alabama building contracts (in $ millions) for a 12 -month period are: 240 350 240…

Q: When conducting a logistic regression analysis, what is the problem of class imbalance in a dataset?…

A: Given: A logistic regression analysis is conducted. To find: The problem of class imbalance in a…

Q: Using the 911 call data in Problem 4.31, forecast calls for weeks 2 through 25 with a trend-adjusted…

A: Given information: Given data represents the observed values of calls for the weeks 1 to 24. Given…

Q: Which one of the following statements about forecasting is FALSE? A. You should use the simple…

Q: method that uses a weighted average of past values for arriving at smoothed time series values is…

Q: Pink Table, a snack shop has recorded sales for its best-selling cold drink, shown as follows: Day…

A: The following information has been given: Day jasmine slush 1 125 2 136 3 127 4 123 5…

Q: All of the following are forecasting methods except Holt-Winters double exponential smoothing simple…

Q: Example 2 Following data represents productions of area of production for the nast s years.…

Q: 5. Apply the exponential smoothing technique with exponential smoothing constant a 0.3 to the…

A: Forecasting values: The forecasting values using the exponential smoothing technique with α=0.3 are…

Q: 9- Following table presents the quarterly market share of Tasty Food Company; uarter Firm's Actual…

A: Formula Ft+1 =wAt + (1-w)Ft __________________________ RMSE = ∑Error2N

Q: 7. The following table represents the new members that have been acquired by a fitness center. New…

A: Given, α = 0.3 and β = 0.4. The initial forecast is equal to 40. The trend adjusted exponential…

Q: The president of State University wants to forecast student enrollment for this academic year based…

A: Formula for Calculating Present year forecast : Ft=Ft-1 +αAt-1-Ft-1 Where t is the present year, and…

Q: Question 1: Find the trend for the time series using moving average method. Forecast Week 4…

A: Using moving average method,

Q: Suppose a time-series plot shows that the data in question exhibit an increasing trend along with a…

A: Introduction: The described time-series plot presents an increasing trend, as well as a seasonal…

Q: National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period…

Q: Year 1 2 3 4 5 6 7 8 9 10 11 Registrations (000) 3.00 7.00 3.00 6.00 11.00 8.00 7.00 10.00 12.00…

A: *Answer: Answers Forecast using Exponential smoothing with Alpha = 0.35: In the exponential…

Q: Using simple exponential smoothing and the following time series data, respond to each of the items.…

A: Given data: Period Demand 1 104 2 132 3 143 4 137 5 146 6 150 7 101 8 126 9 116…

Q: A linear trend equation is used to represent time-series values when the data are changing by equal…

A: a linear trend equation is used to represent

Q: Problem 3-10 (Algo) After plotting demand for four perlods, an emergency room manager has concluded…

A: From the given information, Period Actual 1 210 2 229 3 224 4 229 5 249 6 259 7…

Q: Explain the various concepts & tools of regression with time series data?

A: A time series can be decomposed into three components: the trend (long term direction), the seasonal…

Q: Explain Causal Effects and Time Series Data?

A: 1. Casual effects 2.Time series data

Question

(a)Under what situations additive winter exponential smoothing method is used for forecasting.
(b)Write down the updating equation for level and seasonal components when there is no trend in the
error correction form and the model is additive.
(c) Write the equation for making two steps ahead forecast made at time Twhen there is no trend and
model is additive.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Time Series Analyses, Forecasting Methods, and Indices$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

What does the y -intercept on the graph of a logistic equation correspond to for a population modeled by that equation?
Does Table 1 represent a linear function? If so, finda linear equation that models the data.
The U.S. Census tracks the percentage of persons 25 years or older who are college graduates. That data forseveral years is given in Table 4[14]. Determine whether the trend appears linear. If so, and assuming the trendcontinues. in what year will the percentage exceed 35%?
Table 6 shows the year and the number ofpeople unemployed in a particular city for several years. Determine whether the trend appears linear. If so, and assuming the trend continues, in what year will the number of unemployed reach 5 people?
The US. import of wine (in hectoliters) for several years is given in Table 5. Determine whether the trend appearslinear. Ifso, and assuming the trend continues, in what year will imports exceed 12,000 hectoliters?
If your graphing calculator is capable of computing a least-squares sinusoidal regression model, use it to find a second model for the data. Graph this new equation along with your first model. How do they compare?
What is regression analysis? Describe the process of performing regression analysis on a graphing utility.
Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use exponential regression to fit a model to these data. b. If spending continues at this rate, what will the graduate’s credit card debt be one year after graduating?
A bank wanted to find out whether the number of loan applications received are influenced by the current loan interest rate. The manager selected 11 monthly periods for which different interest rates applied and recorded the number of loan applications received. (b) Show the data graphically in a scatter plot. What relationship is observed? SHOW SOLUTION PLEASE!
A coffee shop owner wants to estimate demand for the next four quarters for hot chocolate. Sales data consist of trend and seasonality. Quarter relatives are 1.06 for the first quarter, 1.03 for the second quarter, 0.61 for the third quarter, and 1.30 for the fourth quarter. Using the appropriate values of quarter relatives and the equation Ft = 187 +9.2t for the trend component, estimate demand for periods 9-12. (Round all calculations to two decimal points. Demand Period 9 Demand Period 10 Demand Period 11. Demand Period 12
Explain the conceot of using Regression Models for Forecasting?
Describe three approaches to modeling seasonality in a regression forecast.