Question: Consider the following time series data. Week 1 2 3 4 5 6 Value 18 15 16 13 17 16 Choose the correct time series
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 15 16 13 17 16 Choose the correct time series plot. (i) Time Series ValueWeek(t) (ii) Time Series ValueWeek(t) (iii) Time Series ValueWeek(t) (iv) Time Series ValueWeek(t) What type of pattern exists in the data? Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 15 3 16 4 13 fill in the blank 3 5 17 fill in the blank 4 6 16 fill in the blank 5 MSE: fill in the blank 6 The forecast for week 7: fill in the blank 7 Use = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 15 fill in the blank 8 3 16 fill in the blank 9 4 13 fill in the blank 10 5 17 fill in the blank 11 6 16 fill in the blank 12 MSE: fill in the blank 13 The forecast for week 7: fill in the blank 14 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? Explain. The input in the box below will not be graded, but may be reviewed and considered by your instructor. 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. Find a value of for the smallest MSE. Round your answer to three decimal places. = fill in the blank 17
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