consider the following time series data.Month 1 2 3 4 5 6 7Value 24 13 20 12 19 23 15construct a time series plot. What type of pattern exists in the data?a. develop the three-week moving average forecasts for this time series. compute MSeand a forecast for week 8.b. Use a = .2 to compute the exponential smoothing forecasts for the time series. compute MSe and a forecast for week 8.c. compare the three-week moving average approach with the exponential smoothing approach using a = .2. Which appears to provide more accurate forecasts based on MSe?d. Use a smoothing constant of a = .4 to compute the exponential smoothing forecasts.does a smoothing constant of .2 or .4 appear to provide more accurate forecasts basedon MSe? explain
consider the following time series data.
Month 1 2 3 4 5 6 7
Value 24 13 20 12 19 23 15
construct a time series plot. What type of pattern exists in the data?
a. develop the three-week moving average forecasts for this time series. compute MSe
and a forecast for week 8.
b. Use a = .2 to compute the exponential smoothing forecasts for the time series. compute MSe and a forecast for week 8.
c. compare the three-week moving average approach with the exponential smoothing approach using a = .2. Which appears to provide more accurate forecasts based on MSe?
d. Use a smoothing constant of a = .4 to compute the exponential smoothing forecasts.
does a smoothing constant of .2 or .4 appear to provide more accurate forecasts based
on MSe? explain
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