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  3. the following times series shows the demand for a

The following times series shows the demand for a particular product over the past 10 months....

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Statistics

The following times series shows the demand for a particularproduct over the past 10 months. Month Value

1 324

2 311

3 303

4 314

5 323

6 313

7 302

8 315

9 312

10 326

a. Use α = 0.2 to compute the exponential smoothing values forthe time series. Compute MSE, MAPE and a forecast for month 11.

b. Calculate MSE and MAPE for three month moving average ?

c. Compare the three-month moving average forecast with theexponential smoothing forecast using α = 0.2. Which appears toprovide the better forecast based on MSE?

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