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An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271 Exercise 14
FRED ® (Federal Reserve Economic Data), a database of more than 3000 U.S. economic time series, contains historical data on foreign exchange rates. The following data show the foreign exchange rate for the United States and China (http://research.stlouisfed.org/freds2/). The units for Rate are the number of Chinese yuan renmimbis to one U.S. dollar. 
a. Construct a time series plot. Does a linear trend appear to be present?
b. Use Excel Solver or LINGO to find the parameters for the line that minimizes MSE this rime series.
c. Use the trend equation to forecast the exchange rate for August 2008.
d. Would you feel comfortable using the trend equation to forecast the exchange rate for December 2008?
a. Construct a time series plot. Does a linear trend appear to be present?
b. Use Excel Solver or LINGO to find the parameters for the line that minimizes MSE this rime series.
c. Use the trend equation to forecast the exchange rate for August 2008.
d. Would you feel comfortable using the trend equation to forecast the exchange rate for December 2008?
Explanation
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a)Construct a time series plot using exc...
An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
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