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.
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.3: Arithmetic Sequences And Series
Problem 39E
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.
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Follow-up Questions
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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
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