Question: Consider the following time series data. Week 1 2 3 4 5 Value 25 12 14 23 20 Construct a time series plot. What type

Consider the following time series data.

Week

1

2

3

4

5

Value

25

12

14

23

20

  1. Construct a time series plot. What type of pattern exists in the data?
  2. Develop a three-week moving average for this time series.

Compute MSE and a forecast for week 6.

  1. Use =0.2 to compute the exponential smoothing values for the time

series. Compute MSE and a forecast for week 6

d. According to the MSE, which method is giving you the better forecasting?

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