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    Forecasting, Trends and Mean Square Error

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    Month 1993
    January 1.45
    February 1.80
    March 2.03
    April 1.99
    May 2.32
    June 2.20
    July 2.13
    August 2.43
    September 1.90
    October 2.13
    November 2.56
    December 4.16

    Using the chart above I need to:

    a. Forecast the month of December using a moving average of 3.

    b. Calculate the Mean-Square Error (MSE).

    © BrainMass Inc. brainmass.com October 9, 2019, 6:10 pm ad1c9bdddf

    Solution Preview

    When forecasting using a moving average of 3, we use the following formula:

    Forecast (t) = (1/3)*(Value (t-1) + Value (t-2) + Value ...

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