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Question: problem 1513 algorithmic the values of alabama building contracts in...

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Problem 15-13 (Algorithmic) The values of Alabama building contracts (in millions of dollars) for a 12-month period follow. 240 340 220 270 290 310 220 310 230 310 240 230 a. Choose the correct time series plot. Value Millions of dollars) 400 350 300 250 200 150 100 50 Month (t) 1 234 5 678910 11 12

(İİ) Value (Millions of dollars) 400 350 300 250 200 150 100 50 Month (t) 1 3 4 5 67 8 910 11 12

(iii) Value (Millions of dollars) 400 350 300 250 200 150 100 50 Month (t) 9 10 11 12

(iv) Value (Millions of dollars) 400 350 300 250 200 150 100 50 Month (t) 1 3 4 5 67 8 910 11 12 What type of pattern exists in the data? Horizontal Pattern

b. Compare a three-month moving average forecast with an exponential smoothing forecast. Use α-0.2. Which provides the betterforecasts based on MSE? Do not round your intermediate calculations and round your final answers to two decimal places. Moving Exponential smoothing average MSE Moving average C. What is the forecast for the next month? Round your answer to the nearest whole number. millions of dollars

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