Question: 6. 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

6. Consider the following time series data. a.

6. 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 =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 =0.2. Which appears to provide the better forecast based on MSE? e. Use trial and error to find a value of the exponential smoothing coefficient that results in a smaller MSE than what you calculated for =0.2

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