Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal...
Develop three-month and four-month moving averages for this time series. (Round your answers to two decimal places.)
| Month | Time Series Value |
3-Month Moving Average Forecast |
4-Month Moving Average Forecast |
|---|---|---|---|
| 1 | 9.5 | ||
| 2 | 9.3 | ||
| 3 | 9.4 | ||
| 4 | 9.6 | ||
| 5 | 9.9 | ||
| 6 | 9.8 | ||
| 7 | 9.8 | ||
| 8 | 10.5 | ||
| 9 | 9.9 | ||
| 10 | 9.7 | ||
| 11 | 9.6 | ||
| 12 | 9.6 |
Does the three-month or four-month moving average provide more accurate forecasts based on MSE? Explain.
The four-month moving average provides more accurate forecasts, because its MSE is larger than that of the three-month moving average.The three-month moving average provides more accurate forecasts, because its MSE is smaller than that of the four-month moving average. The four-month moving average provides more accurate forecasts, because its MSE is smaller than that of the three-month moving average.The three-month moving average provides more accurate forecasts, because its MSE is larger than that of the four-month moving average.
(c)
Using the more accurate approach, what is the moving average forecast for the next month? (Round your answer to two decimal places.)
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Develop three-month and four-month moving averages for this time
series. (Round your answers to two decimal...
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