Essay
The temperature in Chicago has been recorded for the past seven days. You are given the information below.
a.Produce exponential smoothing forecasts for the series using a smoothing constant of .2.
b.Compute the mean square error for the forecasts produced with a smoothing constant of .2.
c.What is the forecasted temperature for day 8?
d.Is a smoothing constant of .2 or .3 better for the temperature data? Explain.
Correct Answer:
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a.82, 81.6, 82.08, 82.264, 81....View Answer
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