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Problem 6-05 Consider the following time series data. Week Value (1) 18 € a. Choose the correct time series plot. Time Series Value Time Series Value 20 13 20 16 M 11 2 3 5 17 14 64 5 9 € € Time Series Value Time Series Value 284H2G86420 313 Week (t)

Problem 6-05 Consider the following time series data. Week Value (1) 18 € a. Choose the correct time series plot. Time Series Value Time Series Value 20 13 20 16 M 11 2 3 5 17 14 64 5 9 € € Time Series Value Time Series Value 284H2G86420 313 Week (t)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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eBook Problem 6-05 Consider the following time series data. 3 16 Week 1 Week 2 Value 18 13 a. Choose the correct time series plot (1) € (!!!) Time Series Value Time Series Value 28642986420 284H2G86420 1 4 11 2 {B} 2 TH 3 Week (t) Week (t) 5 6 € (iv) Time Series Value Time Series Value 28642 NO 28642 NO 1 2 2 4 3₁ Week (t) Week (t) 5 6
Transcribed Image Text:eBook Problem 6-05 Consider the following time series data. 3 16 Week 1 Week 2 Value 18 13 a. Choose the correct time series plot (1) € (!!!) Time Series Value Time Series Value 28642986420 284H2G86420 1 4 11 2 {B} 2 TH 3 Week (t) Week (t) 5 6 € (iv) Time Series Value Time Series Value 28642 NO 28642 NO 1 2 2 4 3₁ Week (t) Week (t) 5 6
d. Compare the three-week moving average forecast with the exponential smoothing forecast using a 0.2. Which appears to provide the better forecast based on MSE? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. e. 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.
Transcribed Image Text:d. Compare the three-week moving average forecast with the exponential smoothing forecast using a 0.2. Which appears to provide the better forecast based on MSE? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. e. 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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