Objectives: Identify and describe the basic components of a time series and implement time series models in Excel. Tasks: Follow the instructions below and upload both your Word and Excel file....

Identify and describe the basic components of a time series and implement time series models in Excel.Follow the instructions below and upload both your Word and Excel file.

Objectives: Identify and describe the basic components of a time series and implement time series models in Excel. Tasks: Follow the instructions below and upload both your Word and Excel file. Instructions: 0. In the first worksheet: · Apply naïve forecasting model (10 points) · Apply cumulative forecasting model (10 points) · Apply moving average forecasting model (10 points) · Draw a line graph where it shows four lines: a) actual demand, b) naïve forecasting model results, c) cumulative forecasting model results, d) moving average forecasting model results. Add to your graph x-axis and y-axis titles. Copy and paste your graph here: (10 points) · Compare the results of these three models on the dataset. Are these models suitable for this dataset? Why or Why not? (10 points) 1. In the second worksheet: · Apply the Holt’s Model to the dataset to forecast the values (30 points) · Draw a line graph which shows two lines: a) actual demand, b) Holt’s Model results. Add to your graph x-axis and y-axis titles. Copy and paste your graph here: (10 points) · Compare the results of Holt’s Model with the Winter’s model. You can find the Winter’s model results and graph in the Excel class file on Canvas. Is Holt’s Model suitable for the dataset? Why or Why not? (10 points)