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 nave 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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