Consider the following time series data. (a) Construct a time series plot. What type of pattern exists in the data? The data appear to follow a cyclical pattern. The data appear to follow a seasonal pattern. The data appear to follow a trend pattern. The data appear to follow a horizontal pattern. Develop the three-week moving average forecasts for this time series. (Round yo Compute MSE. (Round your answer to two decimal places.) MSE = What is the forecast for week 7 ? Use =0.2 to compute the exponential smoothing forecasts for the time series. (c) Use =0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE. (Round your answer to two decimal places.) MSE= What is the forecast for week 7 ? (Round your answer to two decimal places.) x (d) Compare the three-week moving average approach with the exponential smoothing approach using =0.2. Which appears to provide m The three-week moving average provides a better forecast since it has a smaller MSE than the smoothing approach. The exponential smoothing using a=0.2 provides a better forecast since it has a smaller MSE than the three-week moving average The exponential smoothing using a=0.2 provides a better forecast since it has a larger MSE than the three-week moving average a The three-week moving average provides a better forecast since it has a larger MSE than the smoothing approach. (e) Use a smoothing constant of a=0.4 to compute the exponential smoothing forecasts. Use a smoothing constant of =0.4 to compute the exponential smoothing forecasts. Does a smoothing constant of 0.2 or 0.4 appear to provide more accurate forecasts based on MSE? Explain. The exponential smoothing using =0.4 provides a better forecast since it has a larger MSE than the exponential smoothing using =0.2. The exponential smoothing using =0.2 provides a better forecast since it has a smaller MSE than the exponential smoothing using a = 0.4 . The exponential smoothing using =0.2 provides a better forecast since it has a larger MSE than the exponential smoothing using =0.4. The exponential smoothing using =0.4 provides a better forecast since it has a smaller MSE than the exponential smoothing using =0.2