The file IPOs contains the number of initial public offerings (IPOs) issued from 2001 through 2016.

Source: Data extracted from K.W. Hanley, “The Economics of Primary Markets,” available at bit.ly/2vWb6hv.

a. Plot the data.

b. Fit a three-year moving average to the data and plot the results.

c. Using a smoothing coefficient of W = 0.50, exponentially smooth the series and plot the results.

d. What is your exponentially smoothed forecast for 2017?

e. Repeat (c) and (d), using a smoothing coefficient of W = 0.25. 

f. Compare the results of (d) and (e).