Question: The data shows the average monthly exchange rate between the US dollar and the euro for a certain year. It shows that 1 euro was
The data shows the average monthly exchange rate between the US dollar and the euro for a certain year. It shows that
euro was equivalent to
US dollars for January
Month Exchange Rate Month Exchange Rate
January
July
February
August
March
September
April
October
May
November
June
December
Answer the following. Present the tables with the corresponding computed values.
Use the na
ve forecasting technique to obtain the forecasted value for January
Use the
month moving average technique to find the forecasted value for January
Forecast the exchange rate for January
using the weighted
month moving average, using the weights
and
Using the MSE, determine which of the
methods provided the most accurate forecast.
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