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) What type of pattern exists in the data? (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 (c) What is the forecast for next month? If required, round your answer to two decimal places.

Answer 1

Answer:

Moving average MSE =1.235

Exponential smoothing MSE =3.555

forecast for next month =(83+84+83)/3=83.33

Step-by-step explanation:

a)

Select your answer - Plot (iii)

What type of pattern exists in the data? -Horizontal Pattern

b)

for Moving Average MSE =1.235

for Exponential smoothing MSE =3.555

Moving Average is better

c)

forecast for next month =(83+84+83)/3=83.33

Answer 2

It can be deduced from the graph that the type of pattern that exists in the data is a horizontal pattern.

How to interpret the graph

From the complete question, when comparing the three-month moving average forecast with an exponential smoothing forecast, the forecast for moving average is 1.235 while that of exponential smoothing is 3.555. Therefore, moving average is better.

In conclusion, the forecast for next month will be:

= (83 + 84 + 83)/3

= 83.33

Learn more about graphs on:

https://brainly.com/question/14323743