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.

Question

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.

Quizplus · Accepted Answer

The Answer of 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.

The Temperature in Chicago Has Been Recorded for the Past