Develop a three-week moving average for this time series

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Reference no: EM132832290

1) Consider the following time series data.

Month Value

1 24

2 13

3 20

4 12

5 19

6 23

7 15

a. Using excel, construct a time series plot. What type of pattern exists in the data?

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

c. Use α = 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 α = 0.2. Which appears to provide the better forecast based on MSE?

Reference no: EM132832290

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