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Consider the table of observed values yt for six annual time steps t. The row of forecast values Ft was obtained by the 2-year moving
Consider the table of observed values yt for six annual time steps t. The row of forecast values Ft was obtained by the 2-year moving averages method. a) Use the simple averages method to find forecasts for F1 to F6. Let F1=348. b) Use the four-year moving averages method to find a forecast for F7. c) Calculate the mean squared error for each of the simple averages and two-year moving averages method. Compare and interpret your answers
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