Question: Month 1 2 3 4 5 6 7 Value 24 15 21 12 19 21 16 b) Develop a three-month moving average for this time

Month 1 2 3 4 5 6 7
Value 24 15 21 12 19 21 16
b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8.
If required, round your answers to two decimal places. Do not round intermediate calculation.
MSE:
The forecast for month 8:
c) Use = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8.
If required, round your answers to two decimal places. Do not round intermediate calculation.
MSE:
The forecast for month 8:

e) Use trial and error to find a value of the exponential smoothing coefficient that results in the smallest MSE.
Do not round intermediate calculations. Use a two-decimal digit precision for the exponential smoothing coefficient.

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