Question: 2) Consider the following time series data. (2 marks) Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15

2) Consider the following time series data. (2 marks) Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 a. Using excel, 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 = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 8. 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

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