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e manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can
e manager of the Petroco Service Station wants to forecast the demand for unleaded
gasoline next month so that the proper number of gallons can be ordered from the
distributor. The owner has accumulated the following data on demand for unleaded
gasoline from sales during the past months:
Months Demand
October
November
December
January
February
March
April
May
June
July
Part
Compute the following:
a MA
b MA
c WMA
d Exponential Smoothing forecast alpha
e Adjusted Exponential Smoothing forecast alpha beta
Part
Using MAD, determine which of these five forecasts is more accurate.
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