Concept explainers
(a)
Interpretation: Data needs to be plotted and analyzed about the time series.
Concept Introduction: The moving average method takes the average of the recent number of observations in any time series. The average is taken based on the k number of previous observations.
(b)
Interpretation: The
Concept Introduction: The moving average method takes the average of the recent number of observations in any time series. The average is taken based on the k number of previous observations.
(c)
Interpretation: The forecast for week 16, using a three period moving averages needs to be calculated.
Concept Introduction: The moving average method takes the average of the recent number of observations in any time series. The average is taken based on the k number of previous observations.
(d)
Interpretation: Mean Square error needs to be calculated for two and three period using moving average model
Concept Introduction: The moving average method takes the average of the recent number of observations in any time series. The average is taken based on the k number of previous observations.
(e)
Interpretation: The best number of periods for the moving average model needs to be determined based on MSE.
Concept Introduction: The moving average method takes the average of the recent number of observations in any time series. The average is taken based on the k number of previous observations.
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