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1. United Dairies, Inc., supplies milk to several independent grocers throughout Dade County, Florida. Managers at United Dairies want to develop a forecast of the
1. United Dairies, Inc., supplies milk to several independent grocers throughout Dade County, Florida. Managers at United Dairies want to develop a forecast of the number of half gallons of milk sold per week. Sales data for the past 12 weeks are: week Sales week sales 2750 3300 3100 8 3100 W N 3250 9 2950 2800 10 3000 2900 11 3200 6 3050 12 3150 a. Construct a time series plot. What type of pattern exists in the data? b. Compare a two-week moving average forecast with an exponential smoothing forecast for a = 0.4, which provides the better forecasts using MSE as the measure of model accuracy? c. Create a linear trend projection model to make a sales forecast and evaluate the accuracy of the sales forecast. d. Based on the results, which is the best forecasting model to be used to forecast the 13th week sales
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