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Collect the monthly time series of currency in circulation in Hong Kong from publicly available source and complete the following tasks: ( a ) Decompose
Collect the monthly time series of currency in circulation in Hong Kong from publicly available source and complete the following tasks:
a Decompose the time series into trend, seasonality, and residuals. Please present the result as a fourpanel chart starting with the observed data followed by the three components.
b Forecast currency in circulation months ahead with a seasonal nave model, an exponential smoothing model and an ARIMASARIMA model. Please prepare a summary to explain how you determine the parameters of your chosen models.
c Compare the forecasting performance of the three models based on a forecast performance indicator. Please prepare a summary explaining the results.
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