The values of Alabama building contracts (in $ millions) for a 12-month period follow. 250 360 230 260 280 310 220 310 250 310 250 230 a. Construct a time series plot. Value (millions of dollars) -300 -200 -100 8 10 12 Month 2 Value -(millions of dollars) -300 -200 -100 6 8 10 12 Month 3 Value (millions of dollars)3 Value (millions of dollars) 200 100 6 8 10 12 Month - Select your answers What type of pattern exists in the data? - Select your answer - b. Compare the three-month moving average approach with the exponential smoothing forecast using a = 0.2 (to 2 decimals) MSE (3-Month) MSE (0 = 0.2) Which provides more accurate forecasts based on MSE? - Select your answer - Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE (a = 0.2) Which provides more accurate forecasts based on MSE? - Select your answer - 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)? S million