The values of Alabama building contracts (in 5 millions) for a 12-month period follow. 250 350 230 260 280 320 220 320 250 320 250 230 a. Construct a time series plot. 1 Vimiors of delan 200 100 3 38 12 Month 18. 12 Month million of defen) wm 100 ale more of delen wm 200 100 30 12 time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) MSE (a=0.2) Which provides more accurate forecasts based on MSE? Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a=0.2) Which provides more accurate forecasts based on MSE? -Select your answer - c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number million 3

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number 28 The following data shows the price of a certain stock over the last 8 months. Month Price 1 2.10 2 1.98 3 2.01 4 1.89 5 1.90 6 1.89 7 1.72 8 1.65 (a) Develop a scatter diagram and draw a trend line through the points. A graph has a horizontal axis labeled "Month" with values from 0 to 10 and a vertical axis labeled "Price" with values from 0 to 2.5. The scatter diagram has 8 points. A line goes through the center of the pattern of points. A pattern goes down and right becoming more steep from (1, 1.7) to (8, 1.25).   A graph has a horizontal axis labeled "Month" with values from 0 to 10 and a vertical axis labeled "Price" with values from 0 to 2.5. The scatter diagram has 8 points. A line goes through the center of the pattern of points. A pattern goes down and right from (1, 2.1) to (8, 1.65).   A graph has a horizontal axis labeled "Month" with values from 0 to 10 and a vertical axis labeled "Price" with values from 0 to 2.5. The scatter…