Gasoline sales for a local gas station for the last twelve months are given belo

Question

Gasoline sales for a local gas station for the last twelve months are given below. Use this data to answer the following Gosoline Sales Month allons 7SD 700 800 725 630 500 645 690 730 810 Februa 425 12470,1 241.67 719.33 218.33 477.99 18.337 ,29 599 June q 1 IC.33 21.47.9 4S7 208, 547.4 ust September october20743.33 November 913.33 3810 December 980 /9.= 157. 3 3 1. What is your forecast for gasoline sales for January using a 3-month moving average? 2. What is your forecast for gasoline sales for January using a 5-month moving average? 3. What is your forecast for gasoline sales for January using a weighted moving average? Use weights of 0.45 for the most recent month, 0.35 for the next month, and 0.20 for the least recent month. tlo 2 4. What is your forecast for gasoline sales for March using exponential smoothing with a smoothing constant (a equal to 0.20? Compute MAD, MSE, and MAPE for the 3-month Moving Average forecasting method used above and fill in the following. 5. MAD MSE MAPE Forecast Method 3-month Moving Average , 144.18 1725 75° 0 141. 100%; last MAPE : MSE SSE/n Sss3b18.33

Explanation / Answer

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Month Sales Forecast 1 750 2 700 3 800 4 725 750.00 5 630 741.67 6 500 718.33 7 645 618.33 8 690 591.67 9 730 611.67 10 810 688.33 11 1200 743.33 12 980 913.33 1 996.67 Ans 1

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