Solution-Prepare a time series plot of data series

Prepare a time series plot of data series

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Reference no: EM133128383

As the world's economies become increasingly interdependent, various exchange rates between currencies have become important in making business decisions. For many U.S. businesses, the European Union exchange rate (in euro per U.S. dollar) is an important decision variable. Download the spreadsheet with the data on this exchange rate (EXEUR) by month for a two-year period.

	Period	EXEUR		Period	EXUR
2016	M1	0.921234	2017	M1	0.940291
	M2	0.901551		M2	0.938967
	M3	0.89815		M3	0.935366
	M4	0.881368		M4	0.933358
	M5	0.884017		M5	0.904977
	M6	0.890313		M6	0.890234
	M7	0.904568		M7	0.867303
	M8	0.892299		M8	0.846525
	M9	0.891424		M9	0.839419
	M10	0.907935		M10	0.850702
	M11	0.926612		M11	0.851571
	M12	0.948317		M12	0.84488


The exchange rate between Euro and Dollar for a two-year period
		The data is retreieved from St Louis FRED
https://fred.stlouisfed.org/series/EXJPUS

Prepare a time series plot of this data series.
Use the naive forecasting model to forecast EXEUR for each month from year 1 M2 through year 3 M1.
Plot actual and forecast values of the series for the year 1 M1 through year 3 M1. (You will not have an actual value for year 3 M1 or a forecast value for year 1 M1)
Calculate RMSE for the period from year 1 M2 through year 2 M12.

Reference no: EM133128383

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Prepare a time series plot of data series

Reference no: EM133128383

Reference no: EM133128383

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