Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Using the datasheet below on the Gross National Product State the forecasting variable. Select at least eight consecutive data values. Using Time Series Forecasting determine

image text in transcribed

  1. Using the datasheet below on the Gross National Product
  2. State the forecasting variable.
  3. Select at least eight consecutive data values.
  4. Using Time Series Forecasting determine the following for the selected variable:
    • moving average
    • weighted moving average
    • exponential smoothing
      • the number of periods used in the moving average method,
      • the weights used in the weighted moving average, and
      • the value of used in exponential smoothing.
  5. what is the "next period" prediction for each method?
  6. Circle, draw, etc. on the chart to indicate which value is the prediction for the next time period.
image text in transcribedimage text in transcribed
Gross National Product in the United States decreased to 19927.51 USD Billion in the second quarter of 2022 from 19944.20 USD Billion in the first quarter of 2022. source: U.S. Bureau of Economic Analysis3Y 10Y 25Y MAX i Chart >4 Compare & Export #API Embed 20500 20038.626 19927.508 20000 19568.078 7.313 19359.736. 19262.095 19500 18987.923 160. 18762.483 19000 18500 1 8000 17412.69 17500 17000 Jul 2019 Jan 2020 Jul 2020 Jan 2021 Jul 2021 Jan 2022 Jul 2022 TRADINGECONOMICS.COM | U.S. BUREAU OF ECONOMIC ANALYSIS Related Last Previous Unit Reference GDP Growth Rate -0.60 -1.60 percent Jun 2022 GDP Annual Growth Rate 1.70 3.50 percent Jun 2022 GDP Constant Prices 19699.50 19727.90 USD Billion Jun 2022 Gross National Product 19927.51 19944.20 USD Billion Jun 2022 Gross Fixed Capital Formation 3631.81 3673.89 USD Billion Jun 2022

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles A Business Perspective Financial Accounting Chapter 1-8

Authors: James Edwards, Roger Hermanson, Bill Buxton

1st Edition

1461088186, 978-1461088189

More Books

Students also viewed these Economics questions

Question

Describe the eight steps in the decision-making process.

Answered: 1 week ago

Question

Values: What is important to me?

Answered: 1 week ago

Question

Purpose: What do we seek to achieve with our behaviour?

Answered: 1 week ago