The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per...

Find the MSE for question (b)

Extracted text: The president of a small manufacturing firm is concerned about the continual increase in manufacturing costs over the past several years. The following figures provide a time series of the cost per unit for the firm's leading product over the past eight years. Click on the datafile logo to reference the data. DATA file Year Cost/Unit ($) Year Cost/Unit ($) 1. 20.00 26.60 2. 24.50 6. 30.00 3 28.20 31.00 4 27.50 8 36.00 (a) Choose the correct time series plot. (i) (ii) 40 40 35 35 30 30 25 10 10 5 5 1. 3 4 6 7 8 1 3 4 5 6 7 8 Year (t) Year (t) (ii) 40 (iv) 40 35 35 30 30 25 E 25 ($) yun/as03 Cost/Unit ($)


Extracted text: (b) Develop three-month and four-month moving averages for this time series. If required, round your answers to two decimal places. з З Month 4 Month Month Sales Moving Average Moving Average 1 9.6 2 9.4 3 9.2 4 9.7 9.40 9.8 9.43 9.48 9.9 9.57 9.53 7 9.7 9.80 O 9.65 8 10.6 9.80 9.78 9 9.9 10.07 10.00 10 9.6 10.07 10.03 11 9.7 10.03 9.95 12 9.5 9.73 9.95 Enter the Mean Square Errors for the three-month and the four-month moving average forecasts. If needed, round your answers to three decimal digits. 3-month 4-month moving moving average average MSE 0.170 0.229 8