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Choosing an appropriate value of the smoothing constant α is a key decision when applying the exponential smoothing method. When relevant historical data exist, one approach to making this decision is to apply the method retrospectively to these data with different values of α and then choose the value of α that gives the smallest MAD. Use this approach for choosing α with each of the following time series representing monthly sales. In each case, use an initial estimate of 50 and compare α = 0.1, 0.2, 0.3, 0.4, and 0.5.
(a) 51 48 52 49 53 49 48 51 50 49
(b) 52 50 53 51 52 48 52 53 49 52
(c) 50 52 51 55 53 56 52 55 54 53
What is the value of the test statistic and decision? Show step by step on how you obtained your final answer.
In a bumper test, three types of autos were deliberately crashed into a barrier at 5mph, and the resulting damage (in dollars) was estimated. Five test vehicles of each type were crashed, with the results shown below. Are mean crash damages the sa..
If X1 and X2 are independent random variables having exponential densities with the parameters a and b the probability density of Y = X1+ X2 when a not eqal to b
A week was randomly chosen and the number of customers each day was counted. The results were: Monday-31, Tuesday-18, Wednesday-36, Thursday-23, Friday-47, Saturday-60. Use this sample to test the expected distribution using α = 0.05.
The mean hourly wage of bottling plant employees in Nelson County is $16.50 per hour. What is the likelihood that we could select a sample of 40 bottlers with a mean of $16.75 or more? The standard deviation of the sample is $1.75
Based on the genotypes of parents, offspring are expected to have genotypes distributed in such a way that 25% have genotypes denoted by AA, 50% have genotypes denoted by Aa
a) Test whether there is a difference between attitudes in the 2 cities. Use a 95% alpha. b) What does your result say about attitude consistency across cities?
a company employs 300 employees. each year there is a 30 turnover rate for employees. we want to do a normal
Find the probability that 70 randomly selected washing machines will have a mean replacement time less than 9.1 years.
It appears that people who are mildly obese are less active than leaner people. One study looked at the average number of minutes per day that people spend standing or walking.
Evaluate the result in part c with the decision using the expected value approach.
the mean height of 8 year old girls in my daughters school is 125 cm with a standard deviation of 0.3 and the height
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