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Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN: 9780079039897
Author: Carter
Publisher: McGraw Hill
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![The Bureau of Transportation Statistics conducts a quarterly survey to monitor domestic and international airfares. Here are
the average airfares (inflation-adjusted to 2018 dollars) for U.S. domestic flights for 2004 through 2018.
Airfare Year Airfare Year
Year
2004 $402.26 2009 $359.91 2014
2005 $391.50 2010 $383.48 2015 $395.70
2006 $405.48 2011 $402.45 2016 $361.94
2007 $390.30 2012 $406.13 2017 $352.85
2008 $400.27 2013 $407.99 2018 $346.49
Airfare
$411.67
Hand calculate forecasts for the time series using an exponential smoothing model with the smoothing constant w = 0.2.
Provide a forecast for the average U.S. domestic airfare for 2019.
(Use decimal notation. Give your answer to two decimal places.)](https://content.bartleby.com/qna-images/question/9c53577f-0b6d-47ee-a473-ccfae67e0215/781adce6-37fd-48f4-9720-7e88571b23e4/wfxb5t_thumbnail.png)
Transcribed Image Text:The Bureau of Transportation Statistics conducts a quarterly survey to monitor domestic and international airfares. Here are
the average airfares (inflation-adjusted to 2018 dollars) for U.S. domestic flights for 2004 through 2018.
Airfare Year Airfare Year
Year
2004 $402.26 2009 $359.91 2014
2005 $391.50 2010 $383.48 2015 $395.70
2006 $405.48 2011 $402.45 2016 $361.94
2007 $390.30 2012 $406.13 2017 $352.85
2008 $400.27 2013 $407.99 2018 $346.49
Airfare
$411.67
Hand calculate forecasts for the time series using an exponential smoothing model with the smoothing constant w = 0.2.
Provide a forecast for the average U.S. domestic airfare for 2019.
(Use decimal notation. Give your answer to two decimal places.)
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