Question

Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
---|---|---|---|---|---|---|---|

Value | 25 | 14 | 21 | 13 | 20 | 24 | 16 |

(b)

Develop the three-month moving average forecasts for this time series.

Month | Time Series Value |
Forecast |
---|---|---|

1 | 25 | |

2 | 14 | |

3 | 21 | |

4 | 13 | |

5 | 20 | |

6 | 24 | |

7 | 16 |

Compute MSE. (Round your answer to two decimal places.)

MSE =

What is the forecast for month 8?

(c)

Use *α* = 0.2 to compute the exponential smoothing
forecasts for the time series. (Round your answers to two decimal
places.)

Month | Time Series Value |
Forecast |
---|---|---|

1 | 25 | |

2 | 14 | |

3 | 21 | |

4 | 13 | |

5 | 20 | |

6 | 24 | |

7 | 16 |

Compute MSE. (Round your answer to two decimal places.)

MSE =

What is the forecast for month 8? (Round your answer to two decimal places.)

(d)

Compare the three-month moving average approach with the exponential smoothing approach using

*α* = 0.2.

Which appears to provide more accurate forecasts based on MSE?

The three-month moving average provides a better forecast since
it has a smaller MSE than the exponential smoothing using
*α* = 0.2.The exponential smoothing using *α* = 0.2
provides a better forecast since it has a smaller MSE than the
three-month moving average. The
exponential smoothing using *α* = 0.2 provides a better
forecast since it has a larger MSE than the three-month moving
average.The three-month moving average provides a better forecast
since it has a larger MSE than the exponential smoothing using
*α* = 0.2.

Answer #1

b)

3 month | |||

moving | |||

month | value(A) | forecast(F) | (A-F)^2 |

1 | 25 | ||

2 | 14 | ||

3 | 21 | ||

4 | 13 | 20 | 49 |

5 | 20 | 16 | 16 |

6 | 24 | 18 | 36 |

7 | 16 | 19 | 9 |

average | 27.5 |

MSE =27.5

forecast for month 8 =20

c)

month | value(A) | forecast(F) | (A-F)^2 |

1 | 25 | ||

2 | 14 | 25.00 | 121.00 |

3 | 21 | 22.80 | 3.24 |

4 | 13 | 22.44 | 89.11 |

5 | 20 | 20.55 | 0.30 |

6 | 24 | 20.44 | 12.66 |

7 | 16 | 21.15 | 26.56 |

average | 42.15 |

MSE =42.15

forecast for month 8 =20.12

d)

The three-month moving average provides a better forecast since
it has a smaller MSE than the exponential smoothing using
*α* = 0.2.

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
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...

Month
1 2 3 4 5 6 7
Value
24 15 21 13 19 21 16
a) Develop a three-month moving average for this time series.
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answers to two decimal places. Do not round intermediate
calculation. MSE:_______ The forecast for month 8________
b) Use α = 0.2 to compute the exponential smoothing values for
the time series. Compute MSE and a forecast for month 8. If
required, round...

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...

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:
Month
1
2
3
4
5
6
7
Value
24
15
21
12
19
21
16
(a)
Choose the correct time series plot.
(i)
(ii)
(iii)
(iv)
- Select your answer -Graph (i)Graph (ii)Graph (iii)Graph
(iv)Item 1
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...

(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
16
2
11
3
13
4
10
5
14
6
12
Compute MSE. (Round your answer to two decimal places.)
MSE =
What is the forecast for week 7?
(c)
Use α = 0.2 to compute the exponential smoothing
forecasts for the time series.
Week
Time Series
Value
Forecast
1
16
2
11
3
13
4...

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:...

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Month 1 2 3 4 5 6 7
Value 24 13 21 14 20 23 15
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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
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Month
1
2
3
4
5
6
7
Value
23
13
21
13
19
21
17
(a)
Create a time series plot.
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- 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....

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