Estimate the models parameters

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Valles Global Industries hires special vans to transport visitors to their secret lab in Durango, CO. They have the following data: Year Sightseers 2013 60,109 2014 64,305 2015 59,935 2016 62,795 2017 62,673 2018 66,675 2019 67,937 2020 71,967 2021 74,683 2022 73,349 a. Plot these data, develop a hypothesis of an appropriate model, estimate the model’s parameters, and forecast passengers for 2023-2025. b. Illustrate an exponential smoothing model using an alpha of .1 and then an alpha of .5.

Reference no: EM131042642

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Estimate the models parameters : Valles Global Industries hires special vans to transport visitors to their secret lab in Durango, CO. They have the following data: Plot these data, develop a hypothesis of an appropriate model, estimate the model’s parameters, and forecast passenger..

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