Consider the Following Time Series Data A Construct a Time Series Plot

question 23

Essay

Consider the following time series data. $$\begin{array} { | c | c | } \hline \text { Year } & \text { Value } \\\hline 1 & 234 \\\hline 2 & 287 \\\hline 3 & 255 \\\hline 4 & 310 \\\hline 5 & 298 \\\hline 6 & 250 \\\hline 7 & 302 \\\hline 8 & 267 \\\hline 9 & 225 \\\hline 10 & 336 \\\hline\end{array}$$
a. Construct a time series plot. What type of pattern exists in the data?
b. Develop a three-year moving average for this time series. Compute MSE and a forecast for the year 11.

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Definitions:

Military Self-sufficiency

The capability of a nation to produce all necessary military supplies and services internally without relying on foreign assistance.

National Security

Measures and strategies implemented by a government to protect its country's citizens, economy, and institutions from threats.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than another entity.

Offshoring

The relocation of a business process or operation from one country to another, typically to leverage lower labor costs.