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Perform residual analysis using time series plots

Assignment Help Microeconomics
Reference no: EM13142825

1. Apply the appropriate exponential smoothing model to create fit estimates of the monthly data below.  Tell me why you selected the exponential smoothing model type.

2. Adjust the model coefficient(s) to obtain the best estimates and calculate the residuals.

3. Perform residual analysis using time series plots, autocorrelation analysis, histogram and a normality plot to determine if the residuals are random.  Show the graphs. 

4. State the hypothesis that you are testing relative to the residuals and make a clear statement about whether you accept or reject it.  Show the statistics that support your conclusion.

5. Calculate the RMSE and MAPE for the fit period.

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666922

559962

441071

556265

529673

564722

638531

478899

917045

1515695

1834695

1874515

802365

567637

527987

684457

747335

658036

874679

793355

1819748

1600287

2177214

1759703

574064

521469

522118

716624

632066

633984

543636

596131

1606798

1774832

2102863

1819749

1072617

510005

579541

771350

590556

Reference no: EM13142825

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