Question: For the following Time Series data, answer the following questions.

Week | 1 2 3 4 5 6

Value | 219 213 216 211 217 214

Note: Use Excel to answer the questions, whenever possible.

a) Construct a time series plot. Does the series show trend or seasonality?

b) Develop a three-period moving average for this time series.

c) Develop the three-period moving average forecasts for periods 4, 5, 6, and 7.

d) Using exponential smoothing with α = 0.1, forecast the value of time series for period 7.

e) Find the MAE, MSE, and MAPE for both models. Which model is preferred? Why?