Consider the following time series data. Week123 56 Value 19 11 16 10 17 12 (a) Construct a time series plot. 20 18 20 18 18 16 14 12 4- 24 6 3. 3. 4. 6. 3 Week Week Week Week What type of pattern exists in the data? The data appear to follow a horizontal pattern. The data appear to followa seasonal pattern. e 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 19 11 16 10 15.333 17 12.333 12 14.333 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 1 19 64 x 11 16 1.96 10 17 12

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Consider the following time series data.
Week 12 3 45
Value 19 11 16 10 17 12
(a) Construct a time series plot.
201
20
20
20
18
18
18
16
16
12
10-
10
6-
6.
4-
21
2
1
2
3
4
1
3
4
5
6
1
2
3
4
1
2
3
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.
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
Week
Forecast
Value
1
19
2
11
3
16
10
15.333
17
12.333
12
14.333
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
Week
Forecast
Value
1
19
2
11
64
16
1.96
10
17
6
12
Time Series Value
Transcribed Image Text:Consider the following time series data. Week 12 3 45 Value 19 11 16 10 17 12 (a) Construct a time series plot. 201 20 20 20 18 18 18 16 16 12 10- 10 6- 6. 4- 21 2 1 2 3 4 1 3 4 5 6 1 2 3 4 1 2 3 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. 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 Week Forecast Value 1 19 2 11 3 16 10 15.333 17 12.333 12 14.333 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 Week Forecast Value 1 19 2 11 64 16 1.96 10 17 6 12 Time Series Value
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