# Question: Consider the following time series data a Construct a time series

Consider the following time series data:

a. Construct a time series plot. What type of pattern exists in the data?

b. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7.

c. Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.

d. Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE?

Explain.

e. Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.2.

a. Construct a time series plot. What type of pattern exists in the data?

b. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7.

c. Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.

d. Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE?

Explain.

e. Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.2.

**View Solution:**## Answer to relevant Questions

Consider the following time series data: a. Construct a time series plot. What type of pattern exists in the data? b. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8. c. Use a ...The Football Bowl Subdivision (FBS) level of the National Collegiate Athletic Association (NCAA) consists of over 100 schools. Most of these schools belong to one of several conferences, or collections of schools, that ...A consumer advocacy agency, Equitable Ernest, is interested in providing a service in which an individual can estimate their own credit score (a continuous measure used by banks, insurance companies, and other businesses ...From 1946 to 1990, the Big Ten Conference consisted of the University of Illinois, Indiana University, University of Iowa, University of Michigan, Michigan State University, University of Minnesota, Northwestern University, ...Professor Rao would like to accurately calculate the grades for the 58 students in his Operations Planning and Scheduling class (OM 455). He has thus far constructed a spreadsheet, part of which follows: The file RSR ...Post your question