The values of Alabama building contracts (in $ millions) for a12?month period follow: (19 marks total)
240 350 230 260 280 320 220 310 240 310 240 230
a. Construct a time series plot. What type of pattern exists in thedata?
b. Compare the three?month moving average approach with theexponential smoothing forecast using ?=0.4. Whichapproach provides more accurate forecasts based on MSE?c. What is the forecast for the next month?
d. Explain how you would find the optimum level of ? for this data.
Please answer this question at ?=0.4. I havesubmission deadline of 3 hrs. Also if possible please post thesolution typed.
