Consider the time series data in the table below (a-c all count as one problem)  a. Construct a time series plot. What type of pattern exists in the data? b. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8. c. Use α = 0.2 to compute the exponential smoothing value for the time series. Compute MSE and a forecast for week 8.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
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Chapter10: Sequences, Series, And Probability
Section10.7: Distinguishable Permutations And Combinations
Problem 14E
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Consider the time series data in the table below (a-c all count as one problem) 
a. Construct a time series plot. What type of pattern exists in the data?
b. Develop a three-week moving average for this time series. Compute MSE
and a forecast for week 8.

c. Use α = 0.2 to compute the exponential smoothing value for the time series.
Compute MSE and a forecast for week 8.

 

Month 1
2 3 4 5 6
7
Value
24 13 20 12 19 23 15
Transcribed Image Text:Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15
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