Question: Week Value 1 24 2 13 3 20 4 12 5 19 6 23 7 15 Consider the time-series data in columns A and

Week Value 1 24 2 13 3 20 4 12 5 19

Week Value 1 24 2 13 3 20 4 12 5 19 6 23 7 15 Consider the time-series data in columns A and B to the left. (40 points) a. Construct a time series plot. b. Using the naive method, develop a forecast for this time series. Compute MSE and MAPE. Show the forecast for week 8. c. Using all previous values, develop a forecast for this time series. Compute MSE and MAPE. Show the forecast for week 8. d. Develop a three-week moving average for this time series. Compute MSE and MAPE. Show the forecast for week 8. e. Use alpha=0.2 to compute the exponential smoothing forecast values for the time series. Compute MSE and MAPE. Show the forecast for week 8. f. Compare the MSE and MAPE for all four forecasting methods. Which forecasting method would you recommend based on these error values?

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