Question
INDIVIDUAL PROBLEM 2 BUSINESS DECISION ANALYSIS Question 1 The number of cans of soft drinks sold in a machine each week is recorded below. Develop
INDIVIDUAL PROBLEM 2
BUSINESS DECISION ANALYSIS
Question 1
The number of cans of soft drinks sold in a machine each week is recorded below. Develop forecasts using a three-period moving average. 338, 219, 278, 265, 314, 323, 299, 259, 287, 302
Question 2
Use a four-period moving average to forecast attendance at baseball games. Historical records show 5346, 7812, 6513, 5783, 5982, 6519, 6283, 5577, 6712, 7345
Question 3
The average SAT verbal score for students from one high school over the last ten exams is:
508, 490, 502, 505, 493, 506, 492, 490, 503, 501
Do the scores support an increasing or a decreasing trend?
Question 4
Weekly sales of the Weber food processor for the past ten weeks have been:
Week | Sales | Week | Sales |
1 | 980 | 6 | 990 |
2 | 1040 | 7 | 1030 |
3 | 1120 | 8 | 1260 |
4 | 1050 | 9 | 1240 |
5 | 960 | 10 | 1100 |
a. Determine, on the basis of minimizing the mean square error, whether a three-period or four-period simple moving average model gives a better forecast for this problem.
b. For each model, forecast sales for week 11.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started