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1. The UTC petrol station manager has collected the following data on unleaded petrol sales for the past 10 months: Month Gasoline demand (gallons) October
1. The UTC petrol station manager has collected the following data on unleaded petrol sales for the past 10 months:
Month | Gasoline demand (gallons) |
October | 900 |
November | 810 |
December | 850 |
January | 910 |
February | 860 |
March | 920 |
April | 890 |
May | 810 |
June | 780 |
July | 850 |
a) Estimate gasoline demand from January to August using the three-month moving average.
b) Estimate gasoline demand from October to August using the exponential smoothing method ( = 0.10).
c) Compare your estimates in (a) and (b) with MAPE. Which method yields more accurate estimates?
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