Use the Energy database to forecast 2008 U.S. coal production by using simple exponential smoothing of previous U.S. coal production data. Let α = .2 and α = .8. Compare the forecast with the actual...

Use the Energy database to forecast 2008 U.S. coal production by using simple exponential smoothing of previous U.S. coal production data. Let α = .2 and α = .8. Compare the forecast with the actual figure. Which of the two models produces the forecast with the least error?

May 25, 2022
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