(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Week Time Series Value 1 2 3 4 5 6 Week 1 2 3 4 17 5 11 6 15 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? 10 (c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Time Series Value 16 13 17 11 15 10 16 Forecast 15.00 13 T x Forecast Compute MSE. (Round your answer to two decimal places.) MSE= What is the forecast for week 7? (Round your answer to two decimal places.)

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Consider the following time series data.
Week 1 2
3
4
5 6
Value 17 11 15 10 16 13
Transcribed Image Text:Consider the following time series data. Week 1 2 3 4 5 6 Value 17 11 15 10 16 13
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.)
Time Series
Value
Week
1
2
3
4
5
6
Week
1
The data appear to follow a trend pattern.
2
3
4
5
17
6
11
15
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for week 7?
10
(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series.
Time Series
Value
16
13
17
11
15
10
16
Forecast
15.00
13
[
x
Forecast
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for week 7? (Round your answer to two decimal places.)
Transcribed Image Text:(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Time Series Value Week 1 2 3 4 5 6 Week 1 The data appear to follow a trend pattern. 2 3 4 5 17 6 11 15 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? 10 (c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Time Series Value 16 13 17 11 15 10 16 Forecast 15.00 13 [ x Forecast Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7? (Round your answer to two decimal places.)
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