Essentials Of Business Analytics
1st Edition
ISBN: 9781285187273
Author: Camm, Jeff.
Publisher: Cengage Learning,
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Textbook Question
Chapter 5, Problem 6P
Consider the following time series data:
- a. Construct a time series plot. What type of pattern exists in the data?
- b. Develop a three-week moving average for this time series. Compute MSE and a forecast for week 8.
- c. Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for week 8.
- d. Compare the three-week moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE?
- e. Use trial and error to find a value of the exponential smoothing coefficient α that results in a smaller MSE than what you calculated for α = 0.2.
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Which of the following time series forecasting methods would not be used to forecast seasonal data?
Consider the following time series data.
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Construct a time series plot. What type of pattern exist in the data?
Develop a three-week moving average for this time series. Compute MSE and forecast for week 7.
Use a = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and forecast for week 7.
consider the following time series data.Month 1 2 3 4 5 6 7Value 24 13 20 12 19 23 15a. compute MSe using the most recent value as the forecast for the next period. Whatis the forecast for month 8?b. compute MSe using the average of all the data available as the forecast for the nextperiod. What is the forecast for month 8?c. Which method appears to provide the better forecast?
Chapter 5 Solutions
Essentials Of Business Analytics
Ch. 5 - Consider the following time series data:
Using...Ch. 5 - Refer to the time series data in Problem 1. Using...Ch. 5 - Problems 1 and 2 used different forecasting...Ch. 5 - Consider the following time series data:
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Ch. 5 - Corporate triple A bond interest rates for 12...Ch. 5 - The values of Alabama building contracts (in...Ch. 5 - The following time series shows the sales of a...Ch. 5 - Prob. 15PCh. 5 - The following table reports the percentage of...Ch. 5 - Consider the following time series: a. Construct a...Ch. 5 - Consider the following time series:
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