Question
Refer to the gasoline sales time series data in the given table. Week Sales (1000s of gallons) 1 17 2 21 3 19 4 22
Refer to the gasoline sales time series data in the given table.
Week | Sales (1000s of gallons) |
1 | 17 |
2 | 21 |
3 | 19 |
4 | 22 |
5 | 19 |
6 | 15 |
7 | 20 |
8 | 17 |
9 | 21 |
10 | 19 |
11 | 16 |
12 | 22 |
Compute four-week and five-week moving averages for the time series. Round your answers to two decimal places.
Week | Sales | 4-Week Moving Average | 5-Week Moving Average |
1 | 17 | ||
2 | 21 | ||
3 | 19 | ||
4 | 22 | ||
5 | 19 | ||
6 | 15 | ||
7 | 20 | ||
8 | 17 | ||
9 | 21 | ||
10 | 19 | ||
11 | 16 | ||
12 | 22 |
Compute the MSE for the four-week and five-week moving average forecasts. Round your intermediate calculations and final answers to two decimal places. MSE for four-week moving average = MSE for five-week moving average =
What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? Recall that MSE for the three-week moving average is 8.14. Four
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