Consider the following time series data.Week1 2 3 4 5 6Value181316111714 Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7.Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. which appears to provide better forecast based on MSE? Explain.Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.2.

1. Let At be the value. The exponential smoothing and the 7th week forecast can be done using the…

Answered: Consider the following time series…

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.

Chapter1: Functions

Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy

Problem 2EA

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Consider the following time series data.

Week	1	2	3	4	5	6
Value	18	13	16	11	17	14

Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7.
Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. which appears to provide better forecast based on MSE? Explain.
Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.2.

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