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The values of Alabama building contracts (in 5 millions) for a 12-month period follow. 250 350 230 260 280 320 220 320 250 320 250 230 a. Construct a time series plot. 1 Vimiors of delan 200 100 3 38 12 Month 18. 12 Month million of defen) wm 100 ale more of delen wm 200 100 30 12 time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) MSE (a=0.2) Which provides more accurate forecasts based on MSE? Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a=0.2) Which provides more accurate forecasts based on MSE? -Select your answer - c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number million 3

The values of Alabama building contracts (in 5 millions) for a 12-month period follow. 250 350 230 260 280 320 220 320 250 320 250 230 a. Construct a time series plot. 1 Vimiors of delan 200 100 3 38 12 Month 18. 12 Month million of defen) wm 100 ale more of delen wm 200 100 30 12 time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) MSE (a=0.2) Which provides more accurate forecasts based on MSE? Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a=0.2) Which provides more accurate forecasts based on MSE? -Select your answer - c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number million 3

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter7: Integration
Section7.CR: Chapter 7 Review
Problem 88CR
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The values of Alabama building contracts (in $ millions) for a 12-month period follow. 250 350 230 260 280 320 220 320 250 320 250 230 a. Construct a time series plot. 1 Valimilions of dolan 200 1.00 2 Vale 10 M 10. 3 alion of delen) Month 100 Month le more of delen) Ly 200 100 March time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) MSE (a=0.2) Which provides more accurate forecasts based on MSE? Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a= 0.2) Which provides more accurate forecasts based on MSE? Select your answer - c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? million
Transcribed Image Text:The values of Alabama building contracts (in $ millions) for a 12-month period follow. 250 350 230 260 280 320 220 320 250 320 250 230 a. Construct a time series plot. 1 Valimilions of dolan 200 1.00 2 Vale 10 M 10. 3 alion of delen) Month 100 Month le more of delen) Ly 200 100 March time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) MSE (a=0.2) Which provides more accurate forecasts based on MSE? Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a= 0.2) Which provides more accurate forecasts based on MSE? Select your answer - c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? million
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