(Solution) - The following data stored in Spills provide the number of -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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The following data, stored in Spills provide the number of oil spills in the Gulf of Mexico from 1996 to 2012:

a. Plot the time series.
b. Fit a three-year moving average to the data and plot the results.
c. Using a smoothing coefficient of W = 0.50, exponentially smooth the series and plot the results.
d. What is your exponentially smoothed forecast for 2013?
e. Repeat (c) and (d), using W = 0.25.
f. Compare the results of (d) and (e).
g. What conclusions can you reach concerning the number of oil spills in the Gulf of Mexico?