Refer to the gasoline sales time series data in the given table. Week Sales (100

Question

Refer to the gasoline sales time series data in the given table. Week Sales (1000s of gallons) 1 18 2 22 3 19 4 23 5 17 6 15 7 21 8 18 9 21 10 21 11 15 12 23 a. 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 18 2 22 3 19 4 23 5 17 6 15 7 21 8 18 9 21 10 21 11 15 12 23 b. 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 = 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 MSE for the three-week moving average is 12.21.

Explanation / Answer

a) MSE for 4-week = 13.53906

b)MSE for 5-week = 10.13714

c) We choose 5-week as its MSE is least

Please rate my solution

Week Sales 4 week 5-week 1 18 2 22 3 19 4 23 5 17 20.5 12.25 6 15 20.25 27.5625 19.8 23.04 7 21 18.5 6.25 19.2 3.24 8 18 19 1 19 1 9 21 17.75 10.5625 18.8 4.84 10 21 18.75 5.0625 18.4 6.76 11 15 20.25 27.5625 19.2 17.64 12 23 18.75 18.0625 19.2 14.44 MSE 13.53906 10.13714

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