Consider the following time series data.Week12346Value191416111814a. Construct a time series plot.1Time Series Value20104Week2Time SeriesValue20-104WeekTime SeriesValue TimeSeriesValue-20F10245Week- Select your answer - vWhat type of pattern exists in the data?- Select your answer - vb. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 7 (to 2 decimals if necessary).MSEThe forecast for week 7c. Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for week 7 (to 2 decimals).MSEThe forecast for week 7d. Compare the three-week moving average approach with the exponential smoothing approach using a = 0.2 Which appears to provide more accurate forecasts based onMSE? Explain.The three-week moving average provides aSelect your answer - v forecast than the exponential smoothing approach since it has aSelect your answer - v MSE.e. Use a smoothing constant of a = 0.4 to compute the exponential smoothing forecasts. Compute MSE (to 2 decimals).Does a smoothing constant of 0.2 or 0.4 appear to provide more accurate forecasts based on MSE? Explain.The exponential smoothing forecast using a = 0.4 provides aSelect your answer - v forecast than the exponential smoothing forecast using a = 0.2 since it has a- Select your answer - v MSE.

1) plot 1 horizontal b) Time period Actual Value(A) Moving avg. Forecast(F) Forecast error…

Answered: Week 1 2 3 4 5 6 Value 19 14 16 11 18…

Week 1 2 3 4 5 6 Value 19 14 16 11 18 14 . Construct a time series plot. Time Series Value 20 F10 4 5 Week Time Series Value 20 F10 4 Week

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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