Consider the following time series data: Month Value 1 2 3 4 5 6 23 13 20 12 18 21 7 16 (b) Develop a three-month movin
Posted: Sun Jul 10, 2022 10:21 am
- Consider The Following Time Series Data Month Value 1 2 3 4 5 6 23 13 20 12 18 21 7 16 B Develop A Three Month Movin 1 (6.75 KiB) Viewed 128 times
(b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: (c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: (d) Compare the three-month moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE? 3-month moving average ✓ (e) Use trial and error to find a value of the exponential smoothing coefficient a that results in the smallest MSE. If required, round your answer to two decimal places. a=