Consider the following time series data. Week 1 2 3 4 5 6 Value18 13 17 12 17 15 a. Which of the following is a correct timeseries plot for this data? What type of pattern exists in the data?b. Develop the three-week moving average forecasts for this timeseries. Compute MSE and a forecast for week (to 2 decimals ifnecessary). MSE The forecast for week c. Use to compute theexponential smoothing forecasts for the time series. Compute MSEand a forecast for week (to 2 decimals). MSE The forecast for weekd. Compare the three-week moving average approach with theexponential smoothing approach using . Which appears to providemore accurate forecasts based on MSE? e. Use a smoothing constantof to compute the MSE (to 2 decimals). Does a smoothing constant ofor appear to provide more accurate forecasts based on MSE? Theexponential smoothing forecast using provides a forecast than theexponential smoothing forecast using since it has a smallerMSE.
