Monthly gold prices. The fluctuation of gold prices is a reflection of the strength or weakness of

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Monthly gold prices. The fluctuation of gold prices is a reflection of the strength or weakness of the US dollar. The table below shows monthly gold prices (dollars per troy ounce) from January 2015 to September 2019.

a. Use exponential smoothing with w = .5 to calculate monthly smoothed values from 2015 to 2018. Then forecast the monthly gold prices for 2019.

b. Calculate 9 one-step-ahead forecasts for January to September 2019 by updating the exponentially smoothed values with each month’s actual value and then forecasting the next month’s value.

c. Repeat parts a–b using Holt’s method with w = .5 and v = .5.

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