3. Consider the table of observed values y, for six annual time steps t. The row...
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3. Consider the table of observed values y, for six annual time steps t. The row of forecast values F+ was obtained by the 2-year moving averages method. 1 2 3 4 5 6 Yt 352.5 340 341.5 329.8 320 321.3 Ft 350.5 350 346.3 340.8 335.7 324.9 a) b) Use the simple averages method to find forecasts for F to F6. Let F = 348. Use the four-year moving averages method to find a forecast for F7. c) Calculate the mean squared error for each of the simple averages and two-year moving averages method. Compare and interpret your answers. 3. Consider the table of observed values y, for six annual time steps t. The row of forecast values F+ was obtained by the 2-year moving averages method. 1 2 3 4 5 6 Yt 352.5 340 341.5 329.8 320 321.3 Ft 350.5 350 346.3 340.8 335.7 324.9 a) b) Use the simple averages method to find forecasts for F to F6. Let F = 348. Use the four-year moving averages method to find a forecast for F7. c) Calculate the mean squared error for each of the simple averages and two-year moving averages method. Compare and interpret your answers.
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