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Construct a Time Series Plot for the Commodity Futures Index

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Ten weeks of data on the Commodity Futures Index are 7.35, 7.40, 7.55, 7.56, 7.60, 7.52, 7.52, 7.70, 7.62, and 7.55.

a. Construct a time series plot. What type of pattern exists in the data?
b. Compute the exponential smoothing forecasts for a = .2.
c. Compute the exponential smoothing forecasts for a = .3.
d. Which exponential smoothing constant provides more accurate forecasts based on MSE? Forecast week 11.

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Solution Summary

This solution explains how to create a time series plot and how to compute the exponential smoothing forecasts for given values of a.

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