Consider the following time series data. Week 1 2 3456 Value 19 11 16 10 17 12 (a) Construct a time series plot. 20 20 18 18 18 18 16 16 16 14 14 14 12 12 12 12 10 10 10 6 4- 2 3 6 2 3 4 1 5 6 1 4 5 7. 1 Week Week Week Week What type of pattern exists in the data? O The data appear to follow a horizontal pattern. The data appear to follow a seasonal pattern. O • The data appear to follow a cyclical pattern. O The data appear to follow a trend pattern. (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Time Series Value Week Forecast 1 19 2 11 3 16 10 28.44 Jx 5 17 21.78 6 12 5.44 Compute MSE. (Round your answer to two decimal places.) MSE = 18.56 What is the forecast for week 7? 13 Time Series Value

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Consider the following time series data.
Week
1
2
3
4
5
6
Value
19
11
16
10
17
12
(a) Construct a time series plot.
201
20
20
18
18-
18
18
16
16
14
2
2
4
6
7
1
2
4
6
7
2
4
5
6
2
4
6
Week
Week
Week
Week
What type of pattern exists in the data?
The data appear to follow a horizontal pattern.
The data appear to follow a seasonal pattern.
O The data appear to follow a cyclical pattern.
O The data appear to follow a trend pattern.
(b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.)
Time Series
Value
Week
Forecast
1
19
11
3
16
4
10
28.44
17
21.78
6
12
5.44
Compute MSE. (Round your answer to two decimal places.)
MSE = 18.56
What is the forecast for week 7?
13
Transcribed Image Text:Consider the following time series data. Week 1 2 3 4 5 6 Value 19 11 16 10 17 12 (a) Construct a time series plot. 201 20 20 18 18- 18 18 16 16 14 2 2 4 6 7 1 2 4 6 7 2 4 5 6 2 4 6 Week Week Week Week What type of pattern exists in the data? The data appear to follow a horizontal pattern. The data appear to follow a seasonal pattern. O The data appear to follow a cyclical pattern. O The data appear to follow a trend pattern. (b) Develop the three-week moving average forecasts for this time series. (Round your answers to two decimal places.) Time Series Value Week Forecast 1 19 11 3 16 4 10 28.44 17 21.78 6 12 5.44 Compute MSE. (Round your answer to two decimal places.) MSE = 18.56 What is the forecast for week 7? 13
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