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  3. consider the following time series data: month 1 2

Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 15...

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Basic Math

Consider the following time series data:

Month 1 2 3 4 5 6 7

Value 23 15 20 12 18 22 15

(b)Develop a three-month moving average for this time series.Compute MSE and a forecast for month 8.
If required, round your answers to two decimal places. Do notround intermediate calculation.
MSE:
The forecast for month 8:
(c)Use ? = 0.2 to compute the exponential smoothingvalues for the time series. Compute MSE and a forecast for month8.
If required, round your answers to two decimal places. Do notround intermediate calculation.
MSE:
The forecast for month 8:
(e)Use trial and error to find a value of the exponentialsmoothing coefficient ? that results in the smallestMSE.
If required, round your answer to two decimal places.
? =

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