(b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. З Month 4 Month Month Sales Moving Average Moving Average 1 9.6 2. 9.4 3 9.2 4 9.7 9.40 9.8 9.43 9.48 6 9.9 9.57 9.53 7 9.7 9.80 9.65 10.6 9.80 O 9.78 9.9 10.07 10.00 10 9.6 10.07 10.03 11 9.7 10.03 9.95 12 9.5 9.73 9.95 Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits. 3-month 4-month moving moving average average MSE 0.170 0.229 9 9 9 9 O 9 9 OUUU
(b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. З Month 4 Month Month Sales Moving Average Moving Average 1 9.6 2. 9.4 3 9.2 4 9.7 9.40 9.8 9.43 9.48 6 9.9 9.57 9.53 7 9.7 9.80 9.65 10.6 9.80 O 9.78 9.9 10.07 10.00 10 9.6 10.07 10.03 11 9.7 10.03 9.95 12 9.5 9.73 9.95 Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits. 3-month 4-month moving moving average average MSE 0.170 0.229 9 9 9 9 O 9 9 OUUU
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
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Question
Find the MSE for question (b)
Transcribed Image Text:The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the
cost per unit for the firm's leading product over the past eight years.
Click on the datafile logo to reference the data.
DATA file
Year Cost/Unit ($)
Year Cost/Unit ($)
1.
20.00
26.60
2.
24.50
6.
30.00
3
28.20
31.00
4
27.50
8
36.00
(a) Choose the correct time series plot.
(i)
(ii)
40
40
35
35
30
30
25
10
10
5
5
1.
3
4
6
7
8
1
3
4
5
6
7
8
Year (t)
Year (t)
(ii)
40
(iv)
40
35
35
30
30
25
E 25
($) yun/as03
Cost/Unit ($)
Transcribed Image Text:(b) Develop three-month and four-month moving averages for this time series.
If required, round your answers to two decimal places.
з
З Month
4 Month
Month
Sales
Moving Average Moving Average
1
9.6
2
9.4
3
9.2
4
9.7
9.40
9.8
9.43
9.48
9.9
9.57
9.53
7
9.7
9.80 O
9.65
8
10.6
9.80
9.78
9
9.9
10.07
10.00
10
9.6
10.07
10.03
11
9.7
10.03
9.95
12
9.5
9.73
9.95
Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits.
3-month
4-month
moving
moving
average
average
MSE
0.170
0.229 8
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