The Temperature in Chicago Has Been Recorded for the Past

question 23

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.

---

Definitions:

Heart Attack

A medical condition that occurs when the blood supply to part of the heart is blocked, causing heart cells to die.

Withdrawal

A process or period in which one stops using an addictive substance or ceases to participate in a particular activity.

Addicted

Having a compulsive or chronic need for a substance or behavior that is often harmful to the individual.

Opiates

A group of drugs derived from opium, used for their pain-relieving properties, but also known for their potential for addiction.