10 5 0 1 2 3 4 5 6 7 Month Graph (i) What type of pattern exists in the data? Horizontal pattern (b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: 19.00 (c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: 19.12 (d) Compare the three-month moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE? 3-month moving average + (e) Use trial and error to find a value of the exponential smoothing coefficient a that results in the smallest MSE. If required, round your answer to two decimal places. = a Hide Feedback Partially Correct Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 13 21 13 19 21 17
10 5 0 1 2 3 4 5 6 7 Month Graph (i) What type of pattern exists in the data? Horizontal pattern (b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: 19.00 (c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: 19.12 (d) Compare the three-month moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE? 3-month moving average + (e) Use trial and error to find a value of the exponential smoothing coefficient a that results in the smallest MSE. If required, round your answer to two decimal places. = a Hide Feedback Partially Correct Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 13 21 13 19 21 17
Chapter3: Data Representation
Section: Chapter Questions
Problem 28VE
Related questions
Question
Transcribed Image Text:10
5
0
1
2
3
4
5
6
7
Month
Graph (i)
What type of pattern exists in the data?
Horizontal pattern
(b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8.
If required, round your answers to two decimal places. Do not round intermediate calculation.
MSE:
The forecast for month 8:
19.00
(c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast
for month 8.
If required, round your answers to two decimal places. Do not round intermediate calculation.
MSE:
The forecast for month 8:
19.12
(d) Compare the three-month moving average forecast with the exponential smoothing forecast using a = 0.2.
Which appears to provide the better forecast based on MSE?
3-month moving average +
(e) Use trial and error to find a value of the exponential smoothing coefficient a that results in the smallest
MSE.
If required, round your answer to two decimal places.
=
a
Hide Feedback
Partially Correct
Transcribed Image Text:Consider the following time series data:
Month
1
2
3
4
5
6
7
Value
23
13
21
13
19
21
17
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