The following time series shows the sales of a particular product over the past 12 months.

a. Construct a time series plot. What type of pattern exists in the data?
b. Use a = 0.3 to compute the exponential smoothing values for the time series.
c. Use trial and error to find a value of the exponential smoothing coefficient a that results in a relatively small MSE.

Transcribed Image Text:

es 500000 1 440 801 a111 n 789012 S 105 35 120 05 90 120 2092 n 123456