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A chilled orange juice warehousing operation is experiencing too many out-of-stock situations with its 96 ounces containers. To better understand the current and future demand
- A chilled orange juice warehousing operation is experiencing too many out-of-stock situations with its 96 ounces containers. To better understand the current and future demand for this product, the company examined the last 36 days of sales, shown in the table below.
- Construct a scatter plot of these data, find the equation that can be used to predict demand, and used this equation to predict sales in the 37th period.
- Use a 5-period moving average to forecast sales for the 37th period.
- Which in your opinion is the better forecast? (10 Points)
Bank | Demand for 96 oz. Container |
1 | 4578 |
2 | 4239 |
3 | 2754 |
4 | 4501 |
5 | 4016 |
6 | 4680 |
7 | 4950 |
8 | 3303 |
9 | 2367 |
10 | 3055 |
11 | 4248 |
12 | 5067 |
13 | 4201 |
14 | 5133 |
15 | 4211 |
16 | 3195 |
17 | 5760 |
18 | 5661 |
19 | 6102 |
20 | 6099 |
21 | 5902 |
22 | 2295 |
23 | 2682 |
24 | 5787 |
25 | 3339 |
26 | 3798 |
27 | 2007 |
28 | 6282 |
29 | 3267 |
30 | 4779 |
31 | 9000 |
32 | 9531 |
33 | 3823 |
34 | 8964 |
35 | 6984 |
36 | 6660 |
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