(b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. З Month 4 Month Month Sales Moving Average Moving Average 1 9.6 2. 9.4 3 9.2 4 9.7 9.40 9.8 9.43 9.48 6 9.9 9.57 9.53 7 9.7 9.80 9.65 10.6 9.80 O 9.78 9.9 10.07 10.00 10 9.6 10.07 10.03 11 9.7 10.03 9.95 12 9.5 9.73 9.95 Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits. 3-month 4-month moving moving average average MSE 0.170 0.229 9 9 9 9 O 9 9 OUUU

(b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. З Month 4 Month Month Sales Moving Average Moving Average 1 9.6 2. 9.4 3 9.2 4 9.7 9.40 9.8 9.43 9.48 6 9.9 9.57 9.53 7 9.7 9.80 9.65 10.6 9.80 O 9.78 9.9 10.07 10.00 10 9.6 10.07 10.03 11 9.7 10.03 9.95 12 9.5 9.73 9.95 Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits. 3-month 4-month moving moving average average MSE 0.170 0.229 9 9 9 9 O 9 9 OUUU

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter1: Equations And Graphs

Section1.2: Graphs Of Equations In Two Variables; Circles

Problem 111E

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Question

Find the MSE for question (b)

Transcribed Image Text:The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1. 20.00 26.60 2. 24.50 6. 30.00 3 28.20 31.00 4 27.50 8 36.00 (a) Choose the correct time series plot. (i) (ii) 40 40 35 35 30 30 25 10 10 5 5 1. 3 4 6 7 8 1 3 4 5 6 7 8 Year (t) Year (t) (ii) 40 (iv) 40 35 35 30 30 25 E 25 ($) yun/as03 Cost/Unit ($)

(b) Develop three-month and four-month moving averages for this time series.
If required, round your answers to two decimal places.
з
З Month
4 Month
Month
Sales
Moving Average Moving Average
1
9.6
2
9.4
3
9.2
4
9.7
9.40
9.8
9.43
9.48
9.9
9.57
9.53
7
9.7
9.80 O
9.65
8
10.6
9.80
9.78
9
9.9
10.07
10.00
10
9.6
10.07
10.03
11
9.7
10.03
9.95
12
9.5
9.73
9.95
Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits.
3-month
4-month
moving
moving
average
average
MSE
0.170
0.229 8

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