Question: Consider the following time series data. Week 1 2 3 4 5 6 Value 12 14 18 24 30 36 Develop the three-week moving average

Consider the following time series data.

Week 1 2 3 4 5 6
Value 12 14 18 24 30 36

  • Develop the three-week moving average for this time series. What is the forecast for week 7?
  • Use= 0.2 to compute the exponential smoothing values for the time series. What is the forecast for week 7? (Round to 2-decimal places)
  • Use= 0.7 to compute the exponential smoothing values for the time series. What is the forecast for week 7? (Round to 2-decimal places)
  • Compute MSE for the three-week moving average, exponential smoothing with = 0.2 and with = 0.7. Which appears to provide the better forecast based on MSE?

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