## Related questions with answers

Question

Consider the following time series data

$\begin{array}{l|rrrrrr} \text { Week } & 1 & 2 & 3 & 4 & 5 & 6 \\ \hline \text { Value } & 18 & 13 & 16 & 11 & 17 & 14 \end{array}$

Use $\alpha=0.2$ to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.

Solution

VerifiedAnswered 1 year ago

Answered 1 year ago

Step 1

1 of 3c) In order to compute the exponential smoothing values for the time series, we will need to click "**Data**" $\to$"**Data Analysis**" $\to$ "**Exponential Smoothing**" $\to$"**Ok**".

In the new window, at "**Input Range**" we should select "**Value**" data from the data field.

Damping factor = $1- \alpha$
We should make the "**Damping factor**" equal to **0.8**.

At "**Output Range**" we should select next empty column in the data field.

Click "**Ok**".

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