Question
Questions 7 through 10 refer to the data sheet named housing_price representing monthly average housing price (in $1,000s) in the DFW metropolitan area during 2000-2003.
Questions 7 through 10 refer to the data sheet named housing_price representing monthly average housing price (in $1,000s) in the DFW metropolitan area during 2000-2003.
Time | Housing | ||
Year | Month | Period | Price ($1000) |
1 | 1 | 1 | 201.12 |
2 | 2 | 213 | |
3 | 3 | 213.6 | |
4 | 4 | 211.32 | |
5 | 5 | 215.64 | |
6 | 6 | 222.96 | |
7 | 7 | 219.24 | |
8 | 8 | 218.76 | |
9 | 9 | 213.24 | |
10 | 10 | 201.45 | |
11 | 11 | 207.24 | |
12 | 12 | 214.56 | |
2 | 1 | 13 | 210.84 |
2 | 14 | 213.84 | |
3 | 15 | 218.4 | |
4 | 16 | 219.72 | |
5 | 17 | 229.8 | |
6 | 18 | 221.88 | |
7 | 19 | 225.72 | |
8 | 20 | 222 | |
9 | 21 | 210.96 | |
10 | 22 | 214.92 | |
11 | 23 | 214.92 | |
12 | 24 | 224.76 | |
3 | 1 | 25 | 212.76 |
2 | 26 | 220.2 | |
3 | 27 | 219.36 | |
4 | 28 | 221.4 | |
5 | 29 | 227.88 | |
6 | 30 | 227.88 | |
7 | 31 | 233.28 | |
8 | 32 | 229.32 | |
9 | 33 | 231.12 | |
10 | 34 | 224.76 | |
11 | 35 | 228.96 | |
12 | 36 | 232.2 |
7. Use the additive seasonal technique for stationary data to model the data. Use Solver to determine the optimal values of and .
a. What are the optimal values of and ?
b. Prepare a line graph comparing the predictions from this method against the original data.
c. What are the forecasts for each of the next 6 months using this technique?
8. Use the multiplicative seasonal technique for stationary data to model the data. Use Solver to determine the optimal values of and .
a. What are the optimal values of and ?
b. Prepare a line graph comparing the predictions from this method against the original data.
c. What are the forecasts for each of the next 6 months using this technique?
9. Use Holt-Winters additive method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of , , and .
a. What are the optimal values of , , and ?
b. Prepare a line graph comparing the predictions from this method against the original data.
c. What are the forecasts for each of the next 6 months using this technique?
10. Use Holt-Winters multiplicative method to create a seasonal model that minimizes the MSE for the data set. Use Solver to determine the optimal values of , , and .
a. What are the optimal values of , , and ?
b. Prepare a line graph comparing the predictions from this method against the original data.
c. What are the forecasts for each of the next 6 months using this technique?
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