For the data of Exercise 18.11, fit an exponentially smoothed curve with smoothing constant 5 0.4; with

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For the data of Exercise 18.11, fit an exponentially smoothed curve with smoothing constant 5 0.4; with smoothing constant 5 0.7. Which constant provides more

“smoothing” and why? Which curve is quicker to “catch up” whenever the original series changes direction and why?

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