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Compute mse and a forecast for week 8

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Reference no: EM132728760

Consider the following time series data:

Month 1 2 3 4 5 6 7

Value 24 13 20 12 19 23 15

c. Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 8

d. Compare the three-week moving average forecast with the exponential smoothing forecast using ? = 0.2. Which appears to provide the better forecast based on MSE?

Reference no: EM132728760

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