Answer to Question #309361 in Management for chiku

Question

Forecast the value for year 2016-17. Year Coal - (Million Tones) Lignite - (Million Tones) 2010-11 532.7 37.73 2011-12 539.95 42.33 2012-13 556.4 46.45 2013-14 565.77 44.27 2014-15 609.18 48.27 2015-16 639.23 43.84

Answer 1

Alpha value 0.7 is a high value for alpha, which tracks the data more closely by giving more weight to recent data results in the smallest MSE. This way it is most preferable.

The forecast for year 2016-2017 is 447.46 and 30.69 respectively