Exercise

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.

Instructions

100 XP
  • 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.