- Consider The Following Time Series Data Month Value 1 2 3 4 5 6 7 23 13 18 13 17 21 14 A Develop The Three Month Movi 1 (14.56 KiB) Viewed 36 times
a. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as negative number. If your answer is zero, enter "0". Squared Forecast Time Series Forecast Month Value Forecast Error Error 23 2 13 3 18 4 13 5 17 6 21 7 14 MSE The forecast for month 8 0000 00 Totals
b. Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month 8 (to 2 decimals). Enter negative values as negative number. Squared Forecast Time Series Forecast Month Value Forecast Error Error 1 23 2 13 T 3 18 4 13 5 17 6 21 7 14 Totals MSE The forecast for month 8 c. Compare the three-month moving average approach with the exponential smoothing approach using a = 0.2. Which appears to provide more accurate forecasts based on MSE? The three-month moving average provides a - Select your answer forecast than the exponential smoothing approach since it has a smaller MSE. d. 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? The exponential smoothing forecast using a = 0.4 provides a - Select your answer forecast than the exponential smoothing forecast using a = 0.2 since it has a - Select your answer - ✓ MSE. 00