Question

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 18 12 18 23 15

b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8

(to 2 decimals if necessary). Enter negative values as negative number.


Month
Time Series Value
Forecast
Forecast Error Squared Forecast Error
1 24
2 13
3 18
4 12 ? ? ?
5 18 ? ? ?
6 23 ? ? ?
7 15 ? ? ?
Totals ?

MSE = [ ? ]

The forecast for month 8 = [      ?      ]

c. Use a=.02 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month 8 (to 2 decimals). Enter negative values as negative number.

Month Time Series Value
Forecast
Forecast Error Squared Forecast Error
1 24
2 13 ? ? ?
3 18 ? ? ?
4 12 ? ? ?
5 18 ? ? ?
6 23 ? ? ?
7 15 ? ? ?
Totals ?

MSE = [ ? ]

The forecast for month 8 = [       ?      ]

e. Use a smoothing constant of a=.04 to compute the MSE. (to 2 decimals).

[     ?      ]

Homework Answers

Answer #1

b)

squared
month value forecast error error
1 24
2 13
3 18
4 12 18.33 -6.33 40.11
5 18 14.33 3.67 13.44
6 23 16.00 7.00 49.00
7 15 17.67 -2.67 7.11
total 109.67

MSE= 27.42

forecast =18.67

c)

squared
month value forecast error error
1 24
2 13 24.00 -11.00 121.00
3 18 21.80 -3.80 14.44
4 12 21.04 -9.04 81.72
5 18 19.23 -1.23 1.52
6 23 18.99 4.01 16.12
7 15 19.79 -4.79 22.93
total 257.72

MSE =42.95

forecast =18.83

e)

MSE =38.56

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
Month 1 2 3 4 5 6 7 Value 22 13 18 12 18 23 14...
Month 1 2 3 4 5 6 7 Value 22 13 18 12 18 23 14 Consider the time series data b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as negative number. Month Time Series Value Forecast Forecast Error Squared Forecast Error Totals MSE The forecast for month 8 c. Use a=.2 to compute the exponential smoothing forecasts for the time...
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...
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...
Month 1 2 3 4 5 6 7 Value 23 14 18 14 20 23 16...
Month 1 2 3 4 5 6 7 Value 23 14 18 14 20 23 16 b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month  (to 2 decimals if necessary). Enter negative values as negative number. c. Use alpha=.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month  (to 2 decimals). Enter negative values as negative number. d. Compare the three-month moving average approach with...
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 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. 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...
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 15 12 16 14 c)Use α = 0.2 to compute the exponential smoothing forecasts for the time series. Week Time Series Value Forecast 1 18 2 13 18 3 15 4 12 5 16 6 14 Compute MSE. (Round your answer to two decimal places.) MSE =____ What is the forecast for week 7? (Round your answer to two decimal places.) ____ (e)Use a...
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. Week 1 2 3 4 5 6 Value 18 14...
Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 12 17 14 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy. Round the intermediate calculations to two decimal places. Mean absolute error (to 1 decimal). Mean squared error (to 1 decimal). Mean absolute percentage error (to 2 decimals). % What is the forecast for week 7 (to the nearest whole...
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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT