problem 4 a,b and c

alcu error test c. Mean absolute percentage error d. What is the forecast for Week 7? 3. Exercises 1 and 2 used different forecasting m the more accurate forecasts for the historical data? Explain. forecasting methods. Which method appears to provide 4. Consider the following time series data: Month 1 2 3 4 5 6 7 Value 1 24 13 20 12 1923 15 a. Compute MSE using the most recent value as the forecast for the next period. what is the forecast for Month 8? b. Compute MSE using the average of all the data available as the forecast for the next period. What is the forecast for Month 8? c. Which method appears to provide the better forecast? 5. Consider the following time series data: Week 1 2 3 4 5 6 Value 1 18 13 16 11 17 14 test a. Construct a time series plot. What type of pattern exists in the data? b. Develop a three-week moving average for this time series. Compute MSE and a fore- cast for Week 7. 07 to compute the exponential smoothing values for the time series. Com- 1. monential smoothing