Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24...
Consider the following time series data:
| Month | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| Value | 24 | 13 | 19 | 11 | 20 | 22 |
14 |
| (a) | Compute MSE using the most recent value as the forecast for the next period. |
| If required, round your answer to one decimal place. | |
| What is the forecast for month 8? | |
| If required, round your answer to one decimal place. Do not round intermediate calculation. | |
| (b) | Compute MSE using the average of all the data available as the forecast for the next period. |
| If required, round your answer to one decimal place. Do not round intermediate calculation. | |
| What is the forecast for month 8? | |
| If required, round your answer to one decimal place. | |
| (c) | Which method appears to provide the better forecast? |
Homework Answers
Add Answer to:
Consider the following time series data:
Month
1
2
3
4
5
6
7
Value
24...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 23 13 19 13 19 24 15 (a) Compute MSE using the most recent value as the forecast for the next period. If required, round your answer to one decimal place. What is the forecast for month 8? If required, round your answer to one decimal place. Do not round intermediate calculation. (b) Compute MSE using the average of all the data available as the...
Consider the following time series data: Month Value 1 1 25 2 12 3 20 4...
Consider the following time series data: Month Value 1 1 25 2 12 3 20 4 12 5 18 6 23 7 15 (a) Compute MSE using the most recent value as the forecast for the next period. If required, round your answer to one decimal place. 70.3 What is the forecast for month 8? If required, round your answer to one decimal place. Do not round intermediate calculation. 1 (b) Compute MSE using the average of all the data...
Consider the following time series data. Month Value 1 21 2 3 4 14 2014 5...
Consider the following time series data. Month Value 1 21 2 3 4 14 2014 5 18 6 21 7 15 Round your answers to two decimal places. a. Compute MSE using the most recent value as the forecast for the next period. Mean squared error is What is the forecast for month 8? b. Compute MSE using the average of all data available as the forecast for the next period Mean squared error is What is the forecast for...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24...
Consider the following time series data: Month 1 2 3 4 5 6 7 Value 24 13 21 14 20 23 15 (c) Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 8. If required, round your answers to two decimal places. Do not round intermediate calculation. MSE: The forecast for month 8: (e) Use trial and error to find a value of the exponential smoothing coefficient α...
Problem 08-06 Algo (Moving Averages and Exponential Smoothing) Consider the following time series data: Month 1...
Problem 08-06 Algo (Moving Averages and Exponential
Smoothing)
Consider the following time series data:
Month
1
2
3
4
5
6
7
Value
23
13
21
13
19
21
17
(a) Choose the correct time series plot Month (iv) Month Select your answer What type of pattern exists in the data? Select your answer- (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...
please help Month 3 5 6 7 12 31 20 27 19 26 30 22 Value...
please help
Month 3 5 6 7 12 31 20 27 19 26 30 22 Value (a) Compute MSE using the most recent value as the forecast for the next period. MSE - What is the forecast for month 8? (b) Compute MSE using the average of all the data available as the forecast for the next period. (Round your answer to two decimal places.) MSE - What is the forecast for month ? (c) Which method appears to provide...
Omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a....
omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a. Which of the following is a correct time series plot for this data? や" -Select your answer- What type of pattern exists in the data? -select your answer- b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 14...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 14 17 12 17 14 Develop a three-week moving average for this time series. Compute MSE and a forecast for week 7. Round your answers to two decimal places. Week Time Series Value Forecast 1 19 2 14 3 17 4 12 5 17 6 14 MSE: The forecast for week 7: Use = 0.2 to compute the exponential smoothing values for the time series....
Please help Consider the following time series data. Week 1 N 3 4 5 6 Value...
Please help
Consider the following time series data. Week 1 N 3 4 5 6 Value 19 11 13 10 14 12 (a) Construct a time series plot. 20 18 20 18 14 12 10 Week 3 4 Week D 20 18+ 16 Time Series Value Time Series Value 5 Week 0 Wook What type of pattem exists in the data? The data appear to follow a cyclical pattern. The data appear to follow a trend pattem. The data appear...
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6...
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 11 17 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Round your answers to two decimal places. MAE = MSE = MAPE = Using the average of all the historical data as a...
Consider the following time series data: Month Value 1 1 25 2 12 3 20 4 12 5 18 6 23 7 15 (a) Compute MSE using the most recent value as the forecast for the next period. If required, round your answer to one decimal place. 70.3 What is the forecast for month 8? If required, round your answer to one decimal place. Do not round intermediate calculation. 1 (b) Compute MSE using the average of all the data...
Consider the following time series data. Month Value 1 21 2 3 4 14 2014 5 18 6 21 7 15 Round your answers to two decimal places. a. Compute MSE using the most recent value as the forecast for the next period. Mean squared error is What is the forecast for month 8? b. Compute MSE using the average of all data available as the forecast for the next period Mean squared error is What is the forecast for...
Problem 08-06 Algo (Moving Averages and Exponential
Smoothing)
Consider the following time series data:
Month
1
2
3
4
5
6
7
Value
23
13
21
13
19
21
17
(a) Choose the correct time series plot Month (iv) Month Select your answer What type of pattern exists in the data? Select your answer- (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...
please help
Month 3 5 6 7 12 31 20 27 19 26 30 22 Value (a) Compute MSE using the most recent value as the forecast for the next period. MSE - What is the forecast for month 8? (b) Compute MSE using the average of all the data available as the forecast for the next period. (Round your answer to two decimal places.) MSE - What is the forecast for month ? (c) Which method appears to provide...
omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a. Which of the following is a correct time series plot for this data? や" -Select your answer- What type of pattern exists in the data? -select your answer- b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as...
Please help
Consider the following time series data. Week 1 N 3 4 5 6 Value 19 11 13 10 14 12 (a) Construct a time series plot. 20 18 20 18 14 12 10 Week 3 4 Week D 20 18+ 16 Time Series Value Time Series Value 5 Week 0 Wook What type of pattem exists in the data? The data appear to follow a cyclical pattern. The data appear to follow a trend pattem. The data appear...
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