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Draw the appropriate chart using MS EXCEL, also carryout Exponential Smoothing model in MS EXCEL for the given Alpha values , copy the results (from
Draw the appropriate chart using MS EXCEL, also carryout Exponential Smoothing model in MS EXCEL for the given Alpha values, copy the results (from EXCEL to Word) and explain which alpha is relatively better for the forecast. In this journey of identification of relatively better way of forecasting you may take the support of MAD and MSE type of errors. Suggested Alpha values are 0.1, 0.2, 0.5, 0.7, 0.9. (10 Marks)
Yield of Groundnut (Kg./hectare) | |
2000-01 | 977 |
2001-02 | 1127 |
2002-03 | 694 |
2003-04 | 1357 |
2004-05 | 1020 |
2005-06 | 1187 |
2006-07 | 866 |
2007-08 | 1459 |
2008-09 | 1163 |
2009-10 | 991 |
2010-11 | 1411 |
2011-12 | 1323 |
2012-13 | 995 |
2013-14 | 1764 |
2014-15 | 1552 |
2015-16 | 1465 |
2016-17 | 1398 |
2017-18 | 1893 |
2018-19 | 1422 |
2019-20 | 2063 |
2020-21 | 1703 |
2021-22 | 1758 |
Data Source: RBI
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