Question: This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for

This question has several parts that must be

This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to the skipped part. Tutorial Exercise Consider the following time series data. Week 1 2 4 5 6 Value 20 11 16 9 18 15 (a) Construct a time series plot. What type of pattern exists in the data? (b) Develop the three-week moving average for this time series. Compute MSE. What is the forecast for week 7? (c) Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE. What is the forecast for week 7? (d) Compare the three-week moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE? Explain. (e) Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.2

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