The values of Alabama building contracts (in $ millions) for a 12-month period follow. 240 350 230

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

240 350 230 260 280 320 220 310 240 310 240 230

a. Construct a time series plot. What type of pattern exists in the data?

b. Compare the three-month moving average approach with the exponential smoothing forecast using α .2. Which provides more accurate forecasts based on MSE?

c. What is the forecast for the next month?

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Statistics For Business And Economics

ISBN: 9780324783247

11th Edition

Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson

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Question Posted: Jul 18, 2024 07:06 AM

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The values of Alabama building contracts (in $ millions) for a 12-month period follow. 240 350 230

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Statistics For Business And Economics

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