The values of Alabama building contracts (in $ millions) for a 12-month period follow. 240 350...

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The values of Alabama building contracts (in $ millions) for a 12-month period follow. 240 350 230 270 280 310 220 310 240 310 240 230 a. Construct a time series plot. 1 3 Value (millions of dollars) 300, 200 100 8 10 12 Month Value (millions of dollars) 300, 200 100 6 8 10 12 Month Value (millions of dollars) 300 -200 100 8 10 12 Month time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) 38.93 MSE (a 0.2) 38.93 Which provides more accurate forecasts based on MSE? 3-month moving average Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a 0.2) 4-12 Which provides more accurate forecasts based on MSE? exponential smoothing approach a = 0.2 c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? 260 million The values of Alabama building contracts (in $ millions) for a 12-month period follow. 240 350 230 270 280 310 220 310 240 310 240 230 a. Construct a time series plot. 1 3 Value (millions of dollars) 300, 200 100 8 10 12 Month Value (millions of dollars) 300, 200 100 6 8 10 12 Month Value (millions of dollars) 300 -200 100 8 10 12 Month time series plot #2 What type of pattern exists in the data? horizontal b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals). MSE (3-Month) 38.93 MSE (a 0.2) 38.93 Which provides more accurate forecasts based on MSE? 3-month moving average Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a 0.2) 4-12 Which provides more accurate forecasts based on MSE? exponential smoothing approach a = 0.2 c. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? 260 million