Reference no: EM132472795

Question 1: Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places.

1. WeekTime Series
2. ValueForecast116212314413515614

MSE:

1. The forecast for week 7:

Question 2: Use = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places.

1. WeekTime Series
2. ValueForecast116212314413515614

MSE:

• The forecast for week 7:

Question 3: 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? Explain.

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Question 4: Use trial and error to find a value of the exponential smoothing coefficient that results in a smaller MSE than what you calculated for = 0.2. Find a value of for the smallest MSE. Round your answer to three decimal places.