Consider the following time series data. Week 1 2 3 4 6. Value 16 14 16 11 17 14 (a) Choose the correct time series plot. (i) 20 18 16 14 12 10 Series Value
Consider the following time series data. Week 1 2 3 4 6. Value 16 14 16 11 17 14 (a) Choose the correct time series plot. (i) 20 18 16 14 12 10 Series Value
Trigonometry (MindTap Course List)
8th Edition
ISBN:9781305652224
Author:Charles P. McKeague, Mark D. Turner
Publisher:Charles P. McKeague, Mark D. Turner
Chapter4: Graphing And Inverse Functions
Section: Chapter Questions
Problem 1GP
Related questions
Question
![Consider the following time series data.
Week
1
3
Value
16
14
16
11
17
14
(a) Choose the correct time series plot.
(i)
20
18
16
14
12
10
8.
4
(b) Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7.
Do not round intermediate calculations. If required, round your answers to two decimal places.
Week Value
Forecast
16
14
16
4
11
15.67
17
14
MSE:
The forecast for week 7:
Time Series Value](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadc776b8-6d95-425f-8e33-4885e446eff6%2Faf692615-1e49-4d3c-bad8-60bb054ee02a%2Fyuug75_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Consider the following time series data.
Week
1
3
Value
16
14
16
11
17
14
(a) Choose the correct time series plot.
(i)
20
18
16
14
12
10
8.
4
(b) Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7.
Do not round intermediate calculations. If required, round your answers to two decimal places.
Week Value
Forecast
16
14
16
4
11
15.67
17
14
MSE:
The forecast for week 7:
Time Series Value
![c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.
Do not round intermediate calculations. If required, round your answers to two decimal places.
Week Value
Forecast
16
2.
14
16
11
5.
17
6.
14
MSE:
The forecast for week 7:
(d) Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the
better forecast based on MSE?
- Select your answer -
Explain.
Using this approach results in a
MSE.
Select your answer
(e) Use trial and error to find a value of the exponential smoothing coefficient a that yields the minimum MSE. Do not round intermediate
calculations. Use a two-decimal digit precision for the exponential smoothing coefficient.
alpha:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fadc776b8-6d95-425f-8e33-4885e446eff6%2Faf692615-1e49-4d3c-bad8-60bb054ee02a%2Fazzonh_processed.jpeg&w=3840&q=75)
Transcribed Image Text:c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.
Do not round intermediate calculations. If required, round your answers to two decimal places.
Week Value
Forecast
16
2.
14
16
11
5.
17
6.
14
MSE:
The forecast for week 7:
(d) Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the
better forecast based on MSE?
- Select your answer -
Explain.
Using this approach results in a
MSE.
Select your answer
(e) Use trial and error to find a value of the exponential smoothing coefficient a that yields the minimum MSE. Do not round intermediate
calculations. Use a two-decimal digit precision for the exponential smoothing coefficient.
alpha:
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