1. Define time-series and the applications of time-series. Give a brief introduction of forecasting methods. What do you understand by the analysis of time series?

2. Compute three-period moving average and forecasting errors for the following time series:

Period (t): 1 2 3 4 5 6 7 8 9 10

Value (Xt): 15 27 20 14 25 11 15 20 25 22

Compute mean absolute deviation (MAD) and mean square error (MSE) also.

3) Apply the exponential smoothing technique with exponential smoothing constant = 0.4 to the following data for period 1 through 10 and compute forecasting errors also.

Time Period: 1 2 3 4 5 6 7 8 9 10

Gasoline Sales: 39 37 61 58 18 56 82 27 41 69