The following time series shows the sales of a particular commodity over the past 15 weeks.
a. Construct a time series plot. What type of pattern exists in the data?
b. Use α = 0.3 to develop the exponential smoothing values for the time series and compute the forecast of demand for the next week.
c. Use trial and error to find a value of the exponential smoothing coefficient α that results in a relatively small MSE.
Definitions:
Attributes
are qualities, features, or characteristics that define or identify someone or something.
Motivational Characteristics
Traits or features of a task, environment, or individual that influence the direction, intensity, and persistence of behavior or action.
Social Characteristics
Attributes that define and differentiate individuals and groups within a society.
Work Context Characteristics
The environmental and situational factors within a workplace that can influence job performance and employee satisfaction.
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