The values of Alabama building contracts (in $ millions) for a 12‐month period follow: (19 marks...

The values of Alabama building contracts (in $ millions) for a 12‐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 the data?
b. Compare the three‐month moving average approach with the exponential smoothing forecast using α=0.4. Which approach 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 α for this data.
Please answer this question at α=0.4. I have submission deadline of 3 hrs. Also if possible please post the solution typed.

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milcah answered 1 year ago

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