(b) Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. Time Seres 3-Month Moal

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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Author:Carter
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Chapter10: Statistics
Section10.2: Representing Data
Problem 24PFA
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Please answer part b
DATAfile: Alabama
The values of Alabama building contracts (in millions of dollars) for a 12-month period are as follows.
240
350
230
260
280
320
220
310
240
310
240
230
(a) Construct a time series plot. What type of pattern exists in the data?
O The data appear to follow a cyclical pattern.
O The data annear to follo
Transcribed Image Text:DATAfile: Alabama The values of Alabama building contracts (in millions of dollars) for a 12-month period are as follows. 240 350 230 260 280 320 220 310 240 310 240 230 (a) Construct a time series plot. What type of pattern exists in the data? O The data appear to follow a cyclical pattern. O The data annear to follo
(b) Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. (Round your answers to two decimal places.)
Time Serles
Value
(In $ millons)
3-Month Moving
Average Forecast
(In $ millons)
Month
a = 0.2
Forecast
(In $ milllons)
1.
240
350
230
4
260
280
6.
320
7
220
310
240
10
310
11
240
12
230
Transcribed Image Text:(b) Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.2. (Round your answers to two decimal places.) Time Serles Value (In $ millons) 3-Month Moving Average Forecast (In $ millons) Month a = 0.2 Forecast (In $ milllons) 1. 240 350 230 4 260 280 6. 320 7 220 310 240 10 310 11 240 12 230
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