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Instructions Submit your answers to all questions in a 1ill-lord document. Download the data sets and use Excel to solve the problems. Question: Download the
Instructions Submit your answers to all questions in a 1ill-lord document. Download the data sets and use Excel to solve the problems. Question: Download the data on thermostat sales. a. Calculate both the threemonth and the vemonth averages for these data. b. Plot the data to examine the possible existence of trend and seasonality. c. Prepare the following two (2] separate forecasting models to examine the thermostat's sales data using monthly data: i. An exponential smoothing model {$0.38, smoothing constant for the level} ii. Holt's model {o=l].l]4, smoothing constant for the level; B=E|.E|?, smoothing constant for the trend} d. Examine the accuracy of the forecast given by each model [four models: MAE, MAE, Simple Exponential smoothing and Holfs Method] by calculating the root mean square error [RMSE] for each during the historical period. e. Which model does minimize the RMSE? Carefully explain which characteristics of the original data caused one of these models to minimize the RMSE. f. Using Holt's method forecast 12 months of thermostat sales for EMT
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