Question: Time Series Forecasting Models Use the time series data in the table below to do the following: a. Develop a last period forecast for periods

Time Series Forecasting Models

Use the time series data in the table below to do the following:

a. Develop a last period forecast for periods 2 through 11. Calculate the MFE, MAD, and MAPE values for periods 2 through 10. Is this a good model? Why?

b. Develop a three-period weighted moving average forecast for periods 4 through 11. Use weights of 0.4, 0.35, and 0.25, with the most recent observation weighted the highest. Calculate the MFE, MAD, and MAPE values for periods 4 through 10. How do your results compare with those for a above?

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