Consider the following time series data. month 1 2 3 4 5 6 7 |8 value 18 16 20 18 22 20 15 22 a. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month9. a=0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month9. c. Which method appears to provide the better forecast?
Consider the following time series data. month 1 2 3 4 5 6 7 |8 value 18 16 20 18 22 20 15 22 a. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month9. a=0.2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for month9. c. Which method appears to provide the better forecast?
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 23SE: The US. import of wine (in hectoliters) for several years is given in Table 5. Determine whether the...
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Transcribed Image Text:Consider the following time series data.
month 1 2 3 4 5 6 7 8
value |18|16 20 18 22 20 15 22
a. Develop the three-month moving average forecasts
for this time series. Compute MSE and a forecast
for month9.
b. Using a=0.2 to compute the exponential
smoothing forecasts for the time series. Compute
MSE and a forecast for month9.
c. Which method appears to provide the better
forecast?
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