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Daily Spot Exchange Rate, U.S. Dollars per Pound Sterling Date Rate Date Rate Date Rate 1-Apr-04 1.8564 13-Apr-04 1.8160 23-Apr-04 1.7674 2-Apr-04 1.8293 14-Apr-04 1.7902

Daily Spot Exchange Rate, U.S. Dollars per Pound Sterling
Date Rate Date Rate Date Rate
1-Apr-04 1.8564 13-Apr-04 1.8160 23-Apr-04 1.7674
2-Apr-04 1.8293 14-Apr-04 1.7902 26-Apr-04 1.7857
5-Apr-04 1.8140 15-Apr-04 1.7785 27-Apr-04 1.7925
6-Apr-04 1.8374 16-Apr-04 1.8004 28-Apr-04 1.7720
7-Apr-04 1.8410 19-Apr-04 1.8055 29-Apr-04 1.7751
8-Apr-04 1.8325 20-Apr-04 1.7914 30-Apr-04 1.7744
9-Apr-04 1.8322 21-Apr-04 1.7720 3-May-04 1.7720
12-Apr-04 1.8358 22-Apr-04 1.7684 4-May-04 1.7907
5-May-04 1.7932 13-May-04 1.7584 21-May-04 1.7880
6-May-04 1.7941 14-May-04 1.7572 24-May-04 1.7908
7-May-04 1.7842 17-May-04 1.7695 25-May-04 1.8135
10-May-04 1.7723 18-May-04 1.7695 26-May-04 1.8142
11-May-04 1.7544 19-May-04 1.7827 27-May-04 1.8369
12-May-04 1.7743 20-May-04 1.7710 28-May-04 1.8330

(b) Perform simple exponential smoothing (using Excels Data Analysis or other software such as Minitab) using = .05, .10, .20, and .50. The degree of smoothing (Click to select) varies does not vary dramatically as is increased. (c) Which value of do you prefer? (Round your answers to 2 decimal places.) = (d) Is exponential smoothing appropriate for this kind of data? (Click to select) Yes No

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