Consider the following time series data. Week 12 3 4 6 Value 16 12 14 11| 15 13 (a) Construct a time series plot.

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ISBN:9781938168383
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Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
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Consider the following time series data.
Week 1 2 3
5
6
4
Value 16 12
14
11
15
13
(a) Construct a time series plot.
20
20
20
20
18-
18
18
18
16+
14
16-
16
16
14
14
14
12
12
12
12
10-
10
10
10
8.
8-
8
8
6.
4-
4
4
2
2
1
3
4
5
7
1
3
4
6
7
1
3 4
6
7
1
3
4
6
7
Week
Week
Week
Week
What type of pattern exists in the data?
O The data appear to follow a cyclical pattern.
The data appear to follow a horizontal pattern.
O The data appear to follow a seasonal pattern.
O The data appear to follow a trend pattern.
(b) Develop the three-week moving average forecasts for this time series. (Round your to two decimal places.)
ansvers
Time Series
Week
Forecast
Value
1
16
2
12
14
4
11
15
6
13
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for week 7?
Time Series Value
Transcribed Image Text:Consider the following time series data. Week 1 2 3 5 6 4 Value 16 12 14 11 15 13 (a) Construct a time series plot. 20 20 20 20 18- 18 18 18 16+ 14 16- 16 16 14 14 14 12 12 12 12 10- 10 10 10 8. 8- 8 8 6. 4- 4 4 2 2 1 3 4 5 7 1 3 4 6 7 1 3 4 6 7 1 3 4 6 7 Week Week Week Week What type of pattern exists in the data? O The data appear to follow a cyclical pattern. The data appear to follow a horizontal pattern. O The data appear to follow a seasonal pattern. O The data appear to follow a trend pattern. (b) Develop the three-week moving average forecasts for this time series. (Round your to two decimal places.) ansvers Time Series Week Forecast Value 1 16 2 12 14 4 11 15 6 13 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? Time Series Value
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