using the data below can you answer the question: Month Sales Jan-16 747 Feb-16 697 Mar-16 1014 Apr-16 1126 May-16 1105 Jun-16 1450 Jul-16 1639 Aug-16 1711 Sep-16 1307 Oct-16 1223 Nov-16 975 Dec-16 953 Jan-17 1024 Feb-17 928 Mar-17 1442 Apr-17 1371 May-17 1536 Jun-17 2004 Jul-17 1854 Aug-17 1951 Sep-17 1516 Oct-17 1642 Nov-17 1166 Dec-17 1106 Jan-18 1189 Feb-18 1209 Mar-18 1754 Apr-18 1843 May-18 1769 Jun-18 2207 Jul-18 2471 Aug-18 2288 Sep-18 1867 Oct-18 1980 Nov-18 1418 Dec-18 1333 Jan-19 1333 Feb-19 1370 Mar-19 2142 Apr-19 2138 May-19 2078 Jun-19 2960 Jul-19 2616 Aug-19 2861 Sep-19 2237 Oct-19 2225 Nov-19 1590 Dec-19 1659 Jan-20 1613 Feb-20 1605 Mar-20 2349 Apr-20 2468 May-20 2532 Jun-20 3127 Jul-20 3288 Aug-20 3285 Sep-20 2485 Oct-20 2723 Nov-20 1835 Dec-20 1894 Consider five years of monthly profit for a company Discuss whether a simple exponential smoothing model works well with this data or not.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

using the data below can you answer the question:

Month

Sales

Jan-16

747

Feb-16

697

Mar-16

1014

Apr-16

1126

May-16

1105

Jun-16

1450

Jul-16

1639

Aug-16

1711

Sep-16

1307

Oct-16

1223

Nov-16

975

Dec-16

953

Jan-17

1024

Feb-17

928

Mar-17

1442

Apr-17

1371

May-17

1536

Jun-17

2004

Jul-17

1854

Aug-17

1951

Sep-17

1516

Oct-17

1642

Nov-17

1166

Dec-17

1106

Jan-18

1189

Feb-18

1209

Mar-18

1754

Apr-18

1843

May-18

1769

Jun-18

2207

Jul-18

2471

Aug-18

2288

Sep-18

1867

Oct-18

1980

Nov-18

1418

Dec-18

1333

Jan-19

1333

Feb-19

1370

Mar-19

2142

Apr-19

2138

May-19

2078

Jun-19

2960

Jul-19

2616

Aug-19

2861

Sep-19

2237

Oct-19

2225

Nov-19

1590

Dec-19

1659

Jan-20

1613

Feb-20

1605

Mar-20

2349

Apr-20

2468

May-20

2532

Jun-20

3127

Jul-20

3288

Aug-20

3285

Sep-20

2485

Oct-20

2723

Nov-20

1835

Dec-20

1894

Consider five years of monthly profit for a company

  1. Discuss whether a simple exponential smoothing model works well with this data or not.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education