Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson

Exercise 20

The following time series shows the sales of a particular product over the past 12 months.

a. Construct a time series plot. What type of pattern exists in the data
b. Use a 5 0.3 to compute the exponential smoothing values for the time series.
c. Use trial and error to find a value of the exponential smoothing coefficient a that results in a relatively small MSE.