Question

The following time series shows the sales of particular product over the past 12 months (Please...

The following time series shows the sales of particular product over the past 12 months (Please show your works, do not use xlminer, thank you)

Months

Sales

1

105

2

135

3

120

4

105

5

90

6

120

7

145

8

140

9

100

10

80

11

100

12

110

a.Construct a time series plot. What type of pattern exists in the data?

b. use a = 0.3 to compute the exponential smoothing values for the time series.

c. Use trial and error to find a value of the exponential smoothing coefficient a that results in a relatively small MSE.

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The following time series shows the sales of a particular product over the past 12 months....
The following time series shows the sales of a particular product over the past 12 months. If required, round your answer to two decimal places. Click on the datafile logo to reference the data. Month Sales Month Sales 1 105 7 145 2 135 8 140 3 120 9 100 4 105 10 80 5 90 11 100 6 120 12 110 (a) Choose the correct time series plot. (i) (ii) (iii) (iv) - Select your answer -Plot (i)Plot (ii)Plot...
The following times series shows the demand for a particular product over the past 10 months....
The following times series shows the demand for a particular product over the past 10 months. Month Value 1 324 2 311 3 303 4 314 5 323 6 313 7 302 8 315 9 312 10 326 a. Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE, MAPE and a forecast for month 11. b. Calculate MSE and MAPE for three month moving average ? c. Compare the three-month moving average forecast...
The following time series shows the number of units of a particular product sold over the...
The following time series shows the number of units of a particular product sold over the past six months. Month Units Sold 1 9 2 4 3 5 4 6 5 13 6 11 ​a. Compute the three-month moving average forecast for month 4. b. Compute the three-month moving average forecast for month 5. c. Compute the three-month moving average forecast for month 6. d. Compute the mean squared error (MSE) for the three-month moving average forecasts. e. Use α...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 13 21 13 19 21 17 (a) Create a time series plot. What type of pattern exists in the data? - Select your answer -Positive trend patternHorizontal patternVertical patternNegative trend patternItem 2 (b) Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation....
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 24...
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 (a) Construct a time series plot. A time series plot contains a series of 7 points connected by line segments. The horizontal axis ranges from 0 to 8 and is labeled: Month. The vertical axis ranges from 0 to 30 and is labeled: Time Series Value. The points are plotted from left to right at regular increments of...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 12...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 12 16 11 18 13 (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Week Time Series Value Forecast 1 19 2 12 3 16 4 11 5 18 6 13 Compute MSE. (Round your answer to two decimal places.) MSE =   What is the forecast for week 7? (c) Use α = 0.2 to compute...
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 22...
Consider the following time series data. Month 1 2 3 4 5 6 7 Value 22 11 18 10 17 21 13 A) What type of pattern exists in the data? The data appear to follow a seasonal pattern. The data appear to follow a trend pattern.     The data appear to follow a horizontal pattern. The data appear to follow a cyclical pattern. B) Develop the three-month moving average forecasts for this time series. Month Time Series Value Forecast 1...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 A) What type of pattern exists in the data? (HORIZONTAL OR TREND) B) Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. If required, round your answers to two decimal places. Week Time Series Value Forecast 1 18 2 13 3 16 4 11 _______ 5 17 _______ 6 14 _______ MSE:...
Given is a historical time series for job services demand in the prior 6 months. Month...
Given is a historical time series for job services demand in the prior 6 months. Month Demand 1 20 2 16 3 17 4 19 5 19 6 19 a) The MAD based on the Exponential smoothing α = 0.3 method =  (4 decimal places). b) The MAD based on the 3 months moving average method =  (in 4 decimal places). c) The MSE based on the 3 months moving average method = . d) Use MAD as an criterion to evaluate...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Develop a three-month moving average for this time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: (c) Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT