Consider the following time series data. Month 1 2 3 4 5 6 Value 26 15 22 14 21 25 17

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. (Round your answers to two decimal places.)
Time Series
Month
Forecast
Value
1
26
2
15
3
22
4
14
5
21
6
25
7
17
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for month 8? (Round your answer to two decimal places.)
(d) Compare the three-month moving average approach with the exponential smoothing approach using a = 0.2. Which appears to provide more accurate forecasts based on MSE?
O The exponential smoothing using a = 0.2 provides a better forecast since it has a larger MSE than the three-month moving average.
O The three-month moving average provides
better forecast since it has a smaller MSE than the exponential smoothing using a = 0.2.
O The three-month moving average provides a better forecast since it has a larger MSE than the exponential smoothing using a = 0.2.
O The exponential smoothing using a = 0.2 provides a better forecast since it has a smaller MSE than the three-month moving average.
Transcribed Image Text:(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. (Round your answers to two decimal places.) Time Series Month Forecast Value 1 26 2 15 3 22 4 14 5 21 6 25 7 17 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for month 8? (Round your answer to two decimal places.) (d) Compare the three-month moving average approach with the exponential smoothing approach using a = 0.2. Which appears to provide more accurate forecasts based on MSE? O The exponential smoothing using a = 0.2 provides a better forecast since it has a larger MSE than the three-month moving average. O The three-month moving average provides better forecast since it has a smaller MSE than the exponential smoothing using a = 0.2. O The three-month moving average provides a better forecast since it has a larger MSE than the exponential smoothing using a = 0.2. O The exponential smoothing using a = 0.2 provides a better forecast since it has a smaller MSE than the three-month moving average.
Consider the following time series data.
Month
1
2
3
4
5
6
7
Value 26 15
22
14
21
25
17
(a) Construct a time series plot.
30
30т
30 T
30
25
25
25
25
20
20
20
20
15-
15
15
15
10-
10-
10+
10-
5+
5-
5
5-
0-
0 1 2 3 4 5 6 7
0 1 2 3 4 5 6 7
0 1
4 5 6 7 8
4 5 6 7
8.
8.
2
3
Month
Month
Month
Month
What type of pattern exists in the data?
O The data appear to follow a cyclical pattern.
O The data appear to follow a trend pattern.
O The data appear to follow a seasonal pattern.
O The data appear to follow a horizontal pattern.
(b) Develop the three-month moving average forecasts for this time series.
Time Series
Month
Forecast
Value
1
26
15
22
14
21
6
25
7
17
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for month 8?
Transcribed Image Text:Consider the following time series data. Month 1 2 3 4 5 6 7 Value 26 15 22 14 21 25 17 (a) Construct a time series plot. 30 30т 30 T 30 25 25 25 25 20 20 20 20 15- 15 15 15 10- 10- 10+ 10- 5+ 5- 5 5- 0- 0 1 2 3 4 5 6 7 0 1 2 3 4 5 6 7 0 1 4 5 6 7 8 4 5 6 7 8. 8. 2 3 Month Month Month Month What type of pattern exists in the data? O The data appear to follow a cyclical pattern. O The data appear to follow a trend pattern. O The data appear to follow a seasonal pattern. O The data appear to follow a horizontal pattern. (b) Develop the three-month moving average forecasts for this time series. Time Series Month Forecast Value 1 26 15 22 14 21 6 25 7 17 Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for month 8?
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Time Series Analyses, Forecasting Methods, and Indices
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman