Consider the following time series data. Week 1 2 3 4 6 Value 19 13 17 12 17 14 a. Construct a time series plot. 1 Time Series Value 20 -10 2 3 5 Week Time Series Value 20 -10 3 4 5 Week 3 Time Series Value 20 -10 a. 2 5 Week Select your answer - - Select your answer - plot #1 What type of pattern exists in the data? Vertical - Select your answer - V Horizontal b. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 7 (to 2 decimals if necessary). Scatter d. MSE Select your answer The forecast for week 7 c. Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for week 7 (to 2 decimals). Select your answer - worse MSE better Select your answer Select your answer - smaller The forecast for week 7 d. Compare the three-week moving average approach with the exponential smoothing approach using a = 0.2 Which appears to provide more accurate forecasts based on MSE? Explain. The three-week moving average provides a Select your answer - forecast than the exponential smoothing approach since it has a Select your answer - MSE. e. Use a smoothing constant of a = 0.4 to compute the exponential smoothing forecasts. Compute MSE (to 2 decimals). larger e. Select your answer Select your answer - worse Does a smoothing constant of 0.2 or 0.4 appear to provide more accurate forecasts based on MSE? Explain. The exponential smoothing forecast using a= 0.4 provides a Select your answer - V forecast than the exponential smoothing forecast using a = 0.2 since it has a Select your answer - MSE. better Select your answer - Select your answer - smaller larger