Consider the time series data in Table 4 Construct a time series plot. What type of pattern exists in the data? Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8. Use α = 0.2 to compute the exponential smoothing value for the time series. Compute MSE and a forecast for week 8.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Consider the time series data in Table 4

  1. Construct a time series plot. What type of pattern exists in the data?
  2. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8.
  3. Use α = 0.2 to compute the exponential smoothing value for the time series. Compute MSE and a forecast for week 8.
Table 4: Problem 2.10
3 4
Month
1
6
Value
24 13 20
12
19 23 15
Transcribed Image Text:Table 4: Problem 2.10 3 4 Month 1 6 Value 24 13 20 12 19 23 15
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