Join me in this engaging and visual tutorial as we explore the world of exponential moving averages (EMA) in time series analysis! In this video, we break down the concept of EMA, how it differs from other forecasting methods, and provide a step-by-step explanation of the EMA formula. We also delve into the impact of different alpha values on forecasts and demonstrate the effects visually using Nigeria's GDP per capita data from 2000 to 2020. Perfect for students, professionals, and anyone interested in time series analysis!
Key Concepts Covered:
Exponential Moving Average (EMA)
Alpha smoothing factor
Dampening factor
Comparison with other forecasting methods
Visual demonstration of the EMA formula
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