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Holt's trend methods

Holt's local trend method is implemented in the holt() function:

> holt(y, h = 10, ...)

Here, you will apply it to the austa series, which contains annual counts of international visitors to Australia from 1980-2015 (in millions). The data has been pre-loaded into your workspace.

This exercise is part of the course

Forecasting in R

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Exercise instructions

  • Produce 10 year forecasts of austa using Holt's method. Set h accordingly.
  • Use the summary() function to view the model parameters and other information.
  • Plot your forecasts using the standard time plotting function.
  • Use checkresiduals() to see if the residuals resemble white noise.

Hands-on interactive exercise

Have a go at this exercise by completing this sample code.

# Produce 10 year forecasts of austa using holt()
fcholt <- ___

# Look at fitted model using summary()
___

# Plot the forecasts
___

# Check that the residuals look like white noise
___
Edit and Run Code