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- The data for this problem are the air freight shipments (in ton-miles) each month (beginning in January for one year) in the U. S. for 10 years. The following is a time series plot of this data. What are the most important features of this plot? Ton-miles 3000- 2500- 2000- 1500- 1000- 1 Time Series Plot of Ton-miles ܚ ܪܘܐܐܐ ܘ ܚܐ ܀ 12 24 36 48 60 Index 72 84 96 108 120Consider the following time series data. Choose the correct time series plot. (i) (ii) (iii) (iv) Plot (ii) What type of pattern exists in the data?Horizontal Pattern Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time SeriesValue Forecast 1 18 2 13 3 16 4 11 fill in the blank 3 5 17 fill in the blank 4 6 14 fill in the blank 5 MSE: fill in the blank 6The forecast for week 7: fill in the blank 7 Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time SeriesValue Forecast 1 18 2 13 fill in the blank 8 3 16 fill in the blank 9 4 11 fill in the blank 10 5 17 fill in the blank 11 6 14 fill in the blank 12 MSE: fill in the blank 13The forecast for week 7: fill in the blank 14What type of variable is required when drawing a time-series plot? Why do we draw time-series plots? A is required when drawing a time-series plot. discrete variable quantitative variable at the interval level continuous variable quantitative variable at the ratio level qualitative variable qualitative variable at the ordinal level categorical variable quantitative variable qualitative variable at the nominal level
- Table 7 shows the seasonal factors for a monthly time series: Table 7 Month Seasonal Month Factor January -358.1 May February -196.3 June March 12.5 July April 187.4 August Describe the seasonal variation in this time series. Seasonal Factor 487.2 276.1 -27.9 -124.6 Month September October November December Seasonal Factor -136.7 92.6 70.4 -282.6Answer subparts b,c,and e.Solve accurately.S. The numbers of worldwide airline fatalities are given below. Use a time series chart to display the data. Year 1988 1989 1990 1991 1992 1993 1994 No, of fatalities 699 817 440 510 990 801 732
- Solve the following parts (a) and (b)Consider the following time series data. Month 1 2 3 4 5 6 7 Value 25 14 21 13 20 24 16 (a) Construct a time series plot. -A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 8 to 20 on the vertical axis. The plot reaches its maximum time series value at month 1. -A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 8 to 20 on the vertical axis. The plot reaches its maximum time…Consider the following time series data. Month 1 2 3 4 5 6 7 Value 23 12 19 11 18 22 14 (a) Construct a time series plot. A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 6 to 18 on the vertical axis. The plot reaches its maximum time series value at month 1. A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of 1 month starting at month 1. The points appear to vary randomly between 11 to 23 on the vertical axis. The plot reaches its maximum time…