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Construct a time series plot. What type of pattern exists in the data? a. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 8. b. Use a 2 to compute the exponential smoothing forecasts for the time series. Com pute MSE and a forecast for week 8. c. Compare the three-week moving average approach with the exponential smoothing ap proach using a Use a smoothing constant of a = Does a smoothing constant of .2 or .4 appear to provide more accurate forecasts based on MSE? Explain. 2. Which appears to provide more accurate forecasts based on MSE? d. 4 to compute the exponential smoothing forecasts.

Construct a time series plot. What type of pattern exists in the data? a. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 8. b. Use a 2 to compute the exponential smoothing forecasts for the time series. Com pute MSE and a forecast for week 8. c. Compare the three-week moving average approach with the exponential smoothing ap proach using a Use a smoothing constant of a = Does a smoothing constant of .2 or .4 appear to provide more accurate forecasts based on MSE? Explain. 2. Which appears to provide more accurate forecasts based on MSE? d. 4 to compute the exponential smoothing forecasts.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Use a smoothing constant ofa Does a smoothing constant of 2 or 4 appear to provide more accurate forecasts based on MSE? Explain. e. to compute the exponential smoothing forocasts 6. Consider the following time scries data. Month 1 2 3 4 5 6 Value 24 13 20 12 19 23 15 Construct a time series plot. What type of pattern exists in the data? a. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 8. b. Use a = 2 to compute the exponential smoothing forecasts for the time series. Com pute MSE and a forecast for week 8. C. Compare the three-week moving average approach with the exponential smoothing ap proach using a = d. 2. Which appears to provide more accurate forecasts based on MSE? Use a smoothing constant of a = .4 to compute the exponential smoothing forecasts. Does a smoothing constant of.2 or 4 appear to provide more accurate forecasts based on MSE? Explain.
Transcribed Image Text:Use a smoothing constant ofa Does a smoothing constant of 2 or 4 appear to provide more accurate forecasts based on MSE? Explain. e. to compute the exponential smoothing forocasts 6. Consider the following time scries data. Month 1 2 3 4 5 6 Value 24 13 20 12 19 23 15 Construct a time series plot. What type of pattern exists in the data? a. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 8. b. Use a = 2 to compute the exponential smoothing forecasts for the time series. Com pute MSE and a forecast for week 8. C. Compare the three-week moving average approach with the exponential smoothing ap proach using a = d. 2. Which appears to provide more accurate forecasts based on MSE? Use a smoothing constant of a = .4 to compute the exponential smoothing forecasts. Does a smoothing constant of.2 or 4 appear to provide more accurate forecasts based on MSE? Explain.
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