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Consider the following time series data.
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| (a) | 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. | ||||||||||||||||||||||
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| MSE: | ||||||||||||||||||||||
| The forecast for week 7: | ||||||||||||||||||||||
| (b) | Use ? = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. | |||||||||||||||||||||
| If required, round your answers to two decimal places. | ||||||||||||||||||||||
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| MSE: | ||||||||||||||||||||||
| The forecast for week 7: | ||||||||||||||||||||||
| (c) | Use trial and error to find a value of the exponential smoothing coefficient ? that results in a smaller MSE than what you calculated for ? = 0.20. Use a two-decimal digit precision. | |||||||||||||||||||||
| alpha: |