Question no 5:Consider the following time series data. (10 Marks)Months1 2 3 4 5 6 7 8 9 10 11 12

Prices15 20 21 26 29 30 32 29 40 45 43 50

1. Construct a time series plot. (1)
2. Using a naive method, compute the following measure of forecast accuracy.
3. (4 )
4. a)Mean absolute error.
5. b)Mean squared error.
6. c)Mean absolute percentage error.

3. Use the exponential smoothing approach using= 0.2, compute the following measure of forecast accuracy (4)

1. d)Mean absolute error.
2. e)Mean squared error.
3. f)Mean absolute percentage error.

4. Compare both methods and indicate which one is better.