Question 1 Consider the following time series data Week 1 2 3 4 5 6 Value 118 113 116 111 117 114 Construct a time series plot What type of pattern exists in the data Develop a three week moving average for this time series Compute MSE and a forecast for week 7 Use a 0 2 to compute the exponential smoothing values for the time series Compute MSE and a forecast for week 7 Compare the three week moving average forecast with the exponential smoothing forecast using 0 2 Which appears to provide the better forecast based on MSE explain

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Question: Question 1. Consider the following time series data. Week 1 2 3 4 5 6 Value 118 113 116 111 117 114 Construct a time

Question 1. Consider the following time series data.

Week	1	2	3	4	5	6
Value	118	113	116	111	117	114

Construct a time series plot. What type of pattern exists in the data?
Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7.
Use a =0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7.

Compare the three-week moving average forecast with the exponential smoothing forecast using =0.2. Which appears to provide the better forecast based on MSE? explain.

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