The Following Times Series Shows the Demand for a Particular

question 4

Essay

The following times series shows the demand for a particular product over the past 10 months. $$\begin{array} { | c | c | } \hline \text { Month } & \text { Demand } \\\hline 1 & 324 \\\hline 2 & 311 \\\hline 3 & 303 \\\hline 4 & 314 \\\hline 5 & 323 \\\hline 6 & 313 \\\hline 7 & 302 \\\hline 8 & 315 \\\hline 9 & 312 \\\hline 10 & 326 \\\hline\end{array}$$
a. Construct a time series plot. What type of pattern exists in the data?
b. Develop a three-month moving average for this time series. Compute MSE and a forecast for month 11.

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