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, and 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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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, and 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.
Transcribed Image Text: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, and 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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