Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 16 11 17 14 a. Construct a time series plot. What type of pattern exists in the data? b. Develop the three-week moving average...

Consider the following time series data.

a. Construct a time series plot. What type of pattern exists in the
data?
b. Develop the three-week moving average forecasts for this time
series. compute MSE and a forecast for week 7.
c. Use α= .2 to compute the exponential smoothing forecasts for the time series. Compute MSE and a forecast for week 7.
d. Compare the three-week moving average approach with the
exponential smoothing approach using α = .2. Which appears to provide more accurate forecasts based on MSE? explain.
e. Use a smoothing constant of α = .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.