Consider the following time series data:
|
Week
|
1
|
2
|
3
|
4
|
5
|
6
|
|
Value
|
8
|
13
|
15
|
17
|
16
|
9
|
- Using a 3-week moving average, what is the forecast for week 7 ?
- Using a = 0.2 for exponential smoothening, what is the forecast week 7 ?
Using the mean squared forecast error as a basis, which forecast for week 7 would you recommended?