Consider the following time series data. Week 1 2 34 Value 19 11 16 10 17 12 5 6 (a) Construct a time series plot. 20 20 18 20 18 18 16 16 14 12 12 10 8. 6- 8- 4- 6- 4- 6- 4- 6. 4 2 2- 2 2 2 3. 4. 6 7 0+ 2 3 4 5 6. 7. 3. 5. 1 2. 3. 5 6 Week Week Week Week What type of pattern exists in the data? The data appear to follow a horizontal pattern. O The data appear to follow a seasonal pattern. The data appear to follow a cyclical pattern. O The data appear to follow a trend pattern. (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Time Series Value Week Forecast 1 19 1 3 16 10 28 44 17 21.78 Jx 12 5.44 Compute MSE. (Round your answer to two decimal places.) MSE - 18.56 What is the forecast for week 7? 13

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Consider the following time series data.
1 2 3
Week
4
6
Value 19
11 16 10
17
12
(a) Construct a time series plot.
20
20
20-
20
18
18
18-
18
16
16
16
16
14
14
14
14
12
12
12
12
10
10+
10+
8+
10
8.
8+
6.
6.
6+
6-
4
4
4
4
2
2
21
2-
2
3
4
5
6
7
1
2
3
4
5
7.
1
2
3
4
5
6
1
2
3
4
5
Week
Week
Week
Week
What type of pattern exists in the data?
The data appear to follow a horizontal pattern.
The data appear to follow a seasonal pattern.
O The data appear to follow a cyclical pattern.
The data appear to follow a trend pattern.
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.)
Time Series
Week
Forecast
Value
1
19
2
11
3
16
10
28.44
17
21.78
6
12
5.44
Compute MSE. (Round your answer to two decimal places.)
MSE = 18.56
What is the forecast for week 7?
13
Time Series Value
Transcribed Image Text:Consider the following time series data. 1 2 3 Week 4 6 Value 19 11 16 10 17 12 (a) Construct a time series plot. 20 20 20- 20 18 18 18- 18 16 16 16 16 14 14 14 14 12 12 12 12 10 10+ 10+ 8+ 10 8. 8+ 6. 6. 6+ 6- 4 4 4 4 2 2 21 2- 2 3 4 5 6 7 1 2 3 4 5 7. 1 2 3 4 5 6 1 2 3 4 5 Week Week Week Week What type of pattern exists in the data? The data appear to follow a horizontal pattern. The data appear to follow a seasonal pattern. O The data appear to follow a cyclical pattern. The data appear to follow a trend pattern. (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Time Series Week Forecast Value 1 19 2 11 3 16 10 28.44 17 21.78 6 12 5.44 Compute MSE. (Round your answer to two decimal places.) MSE = 18.56 What is the forecast for week 7? 13 Time Series Value
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.)
Time Series
Week
Forecast
Value
1
19
2
11
3
16
10
28.44
17
21.78
6
12
5.44
Compute MSE. (Round your answer to two decimal places.)
MSE = 18.56
What is the forecast for week 7?
13
(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. (Use all decimal places as given in Excel).
Time Series
Value
Week
Forecast
19
11
64
3
16
1.96
4
10
5
17
6
12
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 Week Forecast Value 1 19 2 11 3 16 10 28.44 17 21.78 6 12 5.44 Compute MSE. (Round your answer to two decimal places.) MSE = 18.56 What is the forecast for week 7? 13 (c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. (Use all decimal places as given in Excel). Time Series Value Week Forecast 19 11 64 3 16 1.96 4 10 5 17 6 12 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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