Week 1 2 3 4 5 6. Value 19 14 16 12 18 15

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter11: Data Analysis And Probability
Section11.7: Combinations
Problem 3E
icon
Related questions
Question

Consider the following time series data.

Week
1
2
3
4
5
6
Value
19
14
16
12 18
15
Transcribed Image Text:Week 1 2 3 4 5 6 Value 19 14 16 12 18 15
(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series.
Time Series
Value
Week
Forecast
1
19
2
14
3
16
4
12
5
18
6
15
Compute MSE. (Round your answer to two decimal places.)
MSE-
What is the forecast for week 7? (Round your answer to two decimal places.)
(d) Compare the three-week moving average approach with the exponential smoothing approach using a = 0.2. Which appears to provide more accurate forecasts based on MSE? Explain.
O The exponential smoothing using a - 0.2 provides a better forecast since it has a larger MSE than the three-week moving average approach.
O The three-week moving average provides a better forecast since it has a smaller MSE than the smoothing approach.
O The exponential smoothing using a - 0.2 provides a better forecast since it has a smaller MSE than the three-week moving average approach.
O The three-week moving average provides a better forecast since it has a larger MSE than the smoothing approach.
(e) Use a smoothing constant of a - 0.4 to compute the exponential smoothing forecasts.
Time Series
Value
Week
Forecast
1
19
2
14
3
16
4
12
5
18
15
in
Transcribed Image Text:(c) Use a = 0.2 to compute the exponential smoothing forecasts for the time series. Time Series Value Week Forecast 1 19 2 14 3 16 4 12 5 18 6 15 Compute MSE. (Round your answer to two decimal places.) MSE- What is the forecast for week 7? (Round your answer to two decimal places.) (d) Compare the three-week moving average approach with the exponential smoothing approach using a = 0.2. Which appears to provide more accurate forecasts based on MSE? Explain. O The exponential smoothing using a - 0.2 provides a better forecast since it has a larger MSE than the three-week moving average approach. O The three-week moving average provides a better forecast since it has a smaller MSE than the smoothing approach. O The exponential smoothing using a - 0.2 provides a better forecast since it has a smaller MSE than the three-week moving average approach. O The three-week moving average provides a better forecast since it has a larger MSE than the smoothing approach. (e) Use a smoothing constant of a - 0.4 to compute the exponential smoothing forecasts. Time Series Value Week Forecast 1 19 2 14 3 16 4 12 5 18 15 in
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Recommended textbooks for you
Holt Mcdougal Larson Pre-algebra: Student Edition…
Holt Mcdougal Larson Pre-algebra: Student Edition…
Algebra
ISBN:
9780547587776
Author:
HOLT MCDOUGAL
Publisher:
HOLT MCDOUGAL
Algebra: Structure And Method, Book 1
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill