Use the exponential smoothing model that you selected in part a to forecast these data. Use no holdout period and requests 12 months of future forecasts in StatTools. Use the default smoothing constant of 0.1. Attach the StatTools report. Also, include a plot of the forecast and actual sales over time. 3) Repeat part 2, optimizing the smoothing constant. Does the optimization parameter option make much of an improvement? Attach the StatTools report. Also, include a plot of the forecast and actual sales over time.
The file Retail Sales ( please show the models ) contains monthly revenue for a company over a four-year period. Our goal is to forecast this company’s revenue for the 12 months. 1)Create and attach the time series plot of the monthly sales. Does this time series exhibit trend and/or seasonality? Based on what you … Read more