Liquid assets the bank of new york company was founded by, Ask an Expert

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Liquid assets. The Bank of New York Company was founded by Alexander Hamilton in 1784 and was a major commercial bank until its merger with the Mellon Financial Corporation in 2007. Their year-end financial reports for the final five years of independent operation give the following values for their liquid assets (Source: The Financial Times).

Year	Liquid Assets ($M)
2002	18,546
2003	22,364
2004	22,413
2005	19,881
2006	26,670

a) Use a 3-year moving average to predict what liquid assets would have been in 2007.

b) Predict the value for 2007 using a single exponential smooth with smoothing parameter a = 0.2.

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