For a certain company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 82, 84, 85, 84, 82, 83, 85, and 83. (a) Construct a time series plot. A time series plot contains a series of 12 points connected by line segments. The horizontal axis ranges from 0 to 13 and is labeled: Month. The vertical axis ranges from 77 to 86 and is labeled: Monthly Percentage. The first

(b)

Compare the three-month moving average forecast with an exponential smoothing forecast for

= 0.1.

Compute the MSE for the three-month moving approach (round your answer to two decimal places)

Compute the MSE for the exponential smoothing forecast for three-month moving for = 0.1.

Which provides more accurate forecasts using MSE as the measure of forecast accuracy?

- Both approaches?

-An exponential smoothing forecast with = 0.1 provides the most accurate forecast using MSE.

-A 3-month moving average forecast provides the most accurate forecast using MSE.