Hi$,$ Im stuck on this question.

Please show work.

Thank you!

In this problem, answer in two $(2)$ decimal points.

Below are the monthly actual sales of Wangdoodles Inc. for the month of December of one year and the first six months of the following year. Also given are three sets of

forecast numbers:

$-F(1)$ : the Na$$ve $($last period$)$ technique.

$-F(2)$ : an exponentially smoothed average with $a=0\mathrm{.}20.$

$-F(3)$ : a three$-$month moving average

Using Microsoft Excel, you are to construct a time series plot and observe the pattern of the data.

a$.$ From your constructed time series plot, the pattern in the data shows

choose your answer...

analysis.

b$.$ To confirm whether there is trend, the appropriate analysis to be used i :

c$.$ Use the analysis method suggested in part $($b$)$ and conduct your analysis using significant $a=5\%.$ The result shows there is

$.$This is

evidenced by $p-$value of

which $p-$value is

$a=5\%.$

d$.$ From the conclusion in part $($c$),$ the model type for this time series is

choose your answer...

time series.

e$.$ Using Mean Square Error $($MSE$)$ forecast accuracy, to test for the best fit forecasting method,

the MSE value for forecast $1,F(1),$ is $516\mathrm{.}67$

the MSE value for forecast $2,F(2),$ is

the MSE value for forecast $3,F(3),$ is

The above results indicate that

is the best forecasting method. This is because it has the

error value.

f$.$ From the result in part $($e$),$ use the method suggested to forecast for the next period. The July's forecast sales is type your answer...

$.$

g$.$ For forecast $2,$ F$(2),$ if we were to use a smoothing constant of $0\mathrm{.}3$ instead of $0\mathrm{.}2,$ using the mean absolute error $($MAE$)$ forecast accuracy to test for the best fit forecasting

method, the forecasting method with the smoothing constant of $0\mathrm{.}3$ is

choose your answer...

the forecasting method with the smoothing constant of $0\mathrm{.}2.$ This is

because the former has the

MAE value, which is

type your answer...