Please find (b), (c), and (e) Check My Work (No more tries available)еВookConsider the following time series data:Month12347Value24152113192116(a) Choose the correct time series plot.(i)3025201510512346Month(ii)302520Value 123MonthGraph (i)What type of pattern exists in the data?Horizontal pattern(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:14.00The forecast for month 8:18.67(c) Use a = 0.2 to compute the exponential smoothing values for the 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:5.00The forecast for month 8:19.32(d) Compare the three-month moving average forecast with the exponential smoothing forecast using a = 0.2. Which appears to provide the better forecast based on MSE?3-month moving average(e) Use trial and error to find a value of the exponential smoothing coefficient a that results in the smallest MSE.If required, round your answer to two decimal places.a" Hide FeedbackPartially CorrectCheck My Work (No more tries available)

b) 3 month moving average : for 3 month moving average : MSE = 70/4 = 17.5 Forecast for month 8…

Answered: еВook Consider the following time…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section4.3: Fitting Linear Models To Data

Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....

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еВook Consider the following time series data: Month 1 2 3 4 5 7 Value 24 15 21 13 19 21 16