From the course: Business Analytics: Forecasting with Trended Baseline Smoothing

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Run and interpret the analysis in R

Run and interpret the analysis in R

From the course: Business Analytics: Forecasting with Trended Baseline Smoothing

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Run and interpret the analysis in R

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- [Instructor] Let's continue from the prior video by comparing the results we get from R's Holt function with the results we got from Excel. Here I am in R. If you need the file on my screen, go ahead and open up 03_01 Workspace from the exercise files. We've entered the Holt function already, putting our results in an object named fit1. Once you execute the Holt function, you can view the analysis using this command. Summary, open paren, fit1, close paren, where fit1 is the name of the object that you assigned the results of the Holt function to. Here's what R shows you. I have copied the results from the R console into an Excel worksheet, so that it's easier to compare using color coding the Excel results with R's. The first few lines of the results simply provide you confirmation that you're using Holt's method to model the data and to forecast values. Then you get what the Holt function terms smoothing parameters, which are the smoothing constants for level and trend. They're…

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