Using exponential smoothing and the time series provided below, find the forecast for time period 6. Use 0.2 as the smoothing constant (to 3 dec. pl). t Y(t) 1 64 2 65 3 96 4 77 5 81 6 91 7 85
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Step 1
Step 1: Calculate the smoothed values for each time period using the exponential smoothing formula: $S_t = \alpha Y_t + (1 - \alpha) S_{t-1}$ where $S_t$ is the smoothed value at time $t$, $Y_t$ is the actual value at time $t$, and $\alpha$ is the smoothing Show more…
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