Consider the following time series data. Month 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Construct a time series plot. What type of pattern exists in the data? Develop the three-week moving average...

Extracted text: Consider the following time series data. Month 2 3 4 5 6 7 Value 24 13 20 12 19 23 15 Construct a time series plot. What type of pattern exists in the data? Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week 8. b. Use a = .2 to compute the exponential smoothing forecasts for the time series. Com- pute MSE and a forecast for week 8. Compare the three-week moving average approach with the exponential smoothing ap- proach using a = .2. Which appears to provide more accurate forecasts based on MSE? d. Use a smoothing constant of a = .4 to compute the exponential smoothing forecasts. Does a smoothing constant of .2 or .4 appear to provide more accurate forecasts based on MSE? Explain.