TABLE 16-13 Given Below Is the Monthly Time-Series Data for U.S. Retail

question 166

Short Answer

TABLE 16-13
Given below is the monthly time-series data for U.S. retail sales of building materials over a specific year.

The results of the linear trend, quadratic trend, exponential trend, first-order autoregressive, second-order autoregressive and third-order autoregressive model are presented below in which the coded month for the first month is 0:




-Referring to Table 16-13, what is the exponentially smoothed value for the first month using a smoothing coefficient of W = 0.25?

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Definitions:

Consumption

The use of goods and services by households or individuals, often analyzed to understand economic activity and consumer behavior.

Bushels

A bushel is a unit of volume that is used in the United States for measuring quantities of agricultural produce such as grains, fruits, and vegetables.

Harvest

The process or period of gathering in crops.

Grain

Small, hard, dry seeds, with or without attached hulls or fruit layers, harvested for human or animal consumption, and used across various industries.