You have the following table: Index of Housing Starts in Wonderland: 2009 to 2020 (with 2008 = 100) 2009 | 2010 2011 Year 2012 2013 2014 | 2015 | 2016 | 2017 | 2018 2019 | 2020 Index 116 122 121 121 111 97 113 125 146 142 156 162 (A) Forecast the index of housing starts in Wonderland in 2021 by exponential smoothing with the following weights: w = 0.3 and w = 0.7 (B) Which of these forecasts gives a better forecast for 2021? Explain why!

You have the following table: Index of Housing Starts in Wonderland: 2009 to 2020 (with 2008 = 100) 2009 | 2010 2011 Year 2012 2013 2014 | 2015 | 2016 | 2017 | 2018 2019 | 2020 Index 116 122 121 121 111 97 113 125 146 142 156 162 (A) Forecast the index of housing starts in Wonderland in 2021 by exponential smoothing with the following weights: w = 0.3 and w = 0.7 (B) Which of these forecasts gives a better forecast for 2021? Explain why!

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

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Question

You have the following table:
Index of Housing Starts in Wonderland: 2009 to 2020 (with 2008 = 100)
2009 | 2010 2011 | 2012
Year
| 2013
2014 2015 2016 | 2017
| 2018 | 2019 | 2020
Index
116
122
121
121
111
97
113
125
146
142
156
162
(A) Forecast the index of housing starts in Wonderland in 2021 by exponential smoothing
with the following weights: w = 0.3 and w = 0.7
(B) Which of these forecasts gives a better forecast for 2021? Explain why!

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