Simple exponential smoothing | ECON | Montclair State University

 

Use the quarterly home price data for New Jersey to answer the following questions home sales prices data_1966.xlsx Download home sales prices data_1966.xlsx .

a. Plot the series and discuss the main features of the data.

b. Apply simple exponential smoothing using weighting parameter, alpha =0.5 and alpha=0.8, to forecast the next quarter home prices. Which alpha would you pick to forecast next quarter home prices? Explain how you arrived at this conclusion. 

                                          ***PLEASE INCLUDE GRAPHS***

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