Question
Brothers Willie and Billie each own a gas station for the same national chain. As brothers, they are very competitive. They held a contest to
Brothers Willie and Billie each own a gas station for the same national chain. As brothers, they are very competitive. They held a contest to see who could do a better job forecasting sales for their station over the course of a year. Willie used a four-week moving average; Billie used a two-week moving average.
Willie's Petrol Park | |
Week | Sales (1000s of gallons) |
1 | 17 |
2 | 21 |
3 | 19 |
4 | 23 |
5 | 18 |
6 | 16 |
7 | 20 |
8 | 18 |
9 | 22 |
10 | 20 |
11 | 15 |
12 | 22 |
Billie's Gasoline Grotto | ||
| Sales (1000s of gallons) | |
1 | 85 | |
2 | 84 | |
3 | 76 | |
4 | 69 | |
5 | 54 | |
6 | 80 | |
7 | 100 | |
8 | 54 | |
9 | 88 | |
10 | 80 | |
11 | 60 | |
12 | 66 |
a. Create the forecasts for each gas station.
b. Which error calculation would be the best to use in this contest? Why?
c. Who won the contest?
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Probability And Statistics For Engineers And Scientists
Authors: Anthony Hayter
3rd Edition
495107573, 978-0495107576
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