Question

For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83. Click on the datafile logo to reference the data. (a) Choose the correct time series plot. (i) (ii) (iii) (iv) - Select your answer - What type of pattern exists in the data? - Select your answer - (b) Compare a three-month moving average forecast with an exponential smoothing forecast for α = 0.2. Which provides the better forecasts using MSE as the measure of model accuracy? Do not round your interim computations and round your final answers to three decimal places. Three-month Moving Average Exponential smoothing MSE - Select your answer - (c) What is the forecast for next month? If required, round your answer to two decimal places.

Answer 1

explanation:

1. What type of pattern exists in the data

the data has the horizontal pattern

2. for moving average

mse = 11.11/9

= 1.23

for exponential smoothing forecast

mse = 39.11/11

= 3.56

3. we are to calculate the forecast for next month

83+84+83/3

= 83.33

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