Question: 3D Systems is a company producing personal protective equipment using 3D printers. The monthly sales of their first year of operations are given in the
3D Systems is a company producing personal protective equipment using 3D printers. The monthly sales of their first year of operations are given in the data file 3DSystems.xls (values in 1,000 USD, see CC, Final Exam). a.) Construct a time series plot. What type of pattern exists in the data? b.) Develop a three-month moving average forecast for the sales of 3D Systems. Include the Excel results in your report. c.) Develop a forecast using exponential smoothing with =0.2 for the sales of 3D Systems. Include the Excel results in your report. d.) Calculate means square error (MSE) for both three-month moving average and exponential smoothing with =0.2. Which one provides the better forecast based on MSE? Why?
| Month | Sales ($1000) |
| 1 | 240 |
| 2 | 350 |
| 3 | 230 |
| 4 | 260 |
| 5 | 280 |
| 6 | 320 |
| 7 | 220 |
| 8 | 310 |
| 9 | 240 |
| 10 | 310 |
| 11 | 240 |
| 12 | 230 |
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