Question: (Forecasting) - Consider the following time series data. Week Value 1 18 2 3 16 4 11 5 17 6 14 13 a. Construct a

(Forecasting) - Consider the following time
(Forecasting) - Consider the following time series data. Week Value 1 18 2 3 16 4 11 5 17 6 14 13 a. Construct a time series plot. What type of pattern exists in the data? b. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 7 c. Use a = 2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for week 7.6 d. Compare the three-week moving average approach with the exponential smoothing approach using a=2. Which appears to provide more accurate forecasts based on MSE? Explain e. Use a smoothing constant of a = 4 to compute the exponential smoothing forecasts. Does a smoothing constant of 2 or.4 appear to provide more accurate forecasts based on MSE? Explain

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