Refer to the gasoline sales time series data in the given table. Click on the datafile logo to reference the data. Week Sales (1,000s 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 (a) Compute four-week and five-week moving averages for the time series. If required, round your answers to two decimal places. Week Sales 4 Period Moving Average 5 period Moving Average 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 (b) Compute the MSE for the four-week and five-week moving average forecasts. If required, round your intermediate calculations to four decimal places and round your final answers to three decimal places. MSE for four-week moving average = MSE for five-week moving average = (c) 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 the MSE for the three-week moving average is 10.22. - Select your answer -ThreeFourFiveItem 18
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
Refer to the gasoline sales time series data in the given table.
Click on the datafile logo to reference the data.
| Week | Sales (1,000s 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 |
| (a) | Compute four-week and five-week moving averages for the time series. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| If required, round your answers to two decimal places. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||
| (b) | Compute the MSE for the four-week and five-week moving average forecasts. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| If required, round your intermediate calculations to four decimal places and round your final answers to three decimal places. | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSE for four-week moving average = | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| MSE for five-week moving average = | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| (c) | 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 the MSE for the three-week moving average is 10.22. | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| - Select your answer -ThreeFourFiveItem 18 |
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
