Refer to the gasoline sales time series data in the given table. WeekSales (1,000s of gallons)118222315426518617721819922101811171221 (a)Compute four-week and five-week moving averages for the time series. If required, round your answers to two decimal places. WeekSales4 PeriodMoving Average5 periodMoving Average118 222 315 426 518 617 721 819 922 1018 1117 1221 (b)Compute the MSE for the four-week and five-week moving average forecasts. If required, 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? Consider that the MSE for the three-week moving average is 11.407.

Given: The gasoline sales time series data is tabulated. The 4-week and 5-week moving averages for…

Answered: Refer to the gasoline sales time series…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter4: Linear Functions

Section4.3: Fitting Linear Models To Data

Problem 24SE: Table 6 shows the year and the number ofpeople unemployed in a particular city for several years....

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Refer to the gasoline sales time series data in the given table.

Week	Sales (1,000s of gallons)
1	18
2	22
3	15
4	26
5	18
6	17
7	21
8	19
9	22
10	18
11	17
12	21

(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	18
2	22
3	15
4	26
5	18
6	17
7	21
8	19
9	22
10	18
11	17
12	21

(b)

Compute the MSE for the four-week and five-week moving average forecasts.

If required, 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? Consider that the MSE for the three-week moving average is 11.407.

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