Question: 8. Consider the following time series data: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 a. Construct a time

8. Consider the following time series data: Week

8. Consider the following time series data: Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 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 = 02 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 = .02. Which appears to provide the better forecast based on MSE

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