Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Monthly electricity consumption data for two years is given by data2={464, 675, 703, 887, 1139, 1077, 1318, 1260, 1120, 963, 996,960, 530, 883, 894, 1045,
Monthly electricity consumption data for two years is given by data2={464, 675, 703, 887, 1139, 1077, 1318, 1260, 1120, 963, 996,960, 530, 883, 894, 1045, 1199, 1287, 1565, 1577, 1076, 918, 1008,1067} Forecast the next years (monthly) electricity consumption by employing anappropriate Holt-Winters method. Let alpha= 0.2 Beta= 0.1 Lamda= 0.1 Determine the initial values for level, trend and seasonality.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started