Homework Help is Here – Start Your Trial Now!
Business
Operations Management
(a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Moving Average Forecast Moving Average Time Series Week Value Forecast 1 17 22 3 20 4 24 5 18 6. 17 7. 21 8 19 9 23 10 21 11 15 12 23 (b) Compute the MSE for the four-week moving average forecasts. (Round your answer to two decimal places.) Compute the MSE for the five-week moving average forecasts. (Round your answer to two decimal places.) (c) What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? MSE for the three-week moving average is 12.58. O Three weeks appears to be best, because the three-week moving average provides the smallest MSE. O Three weeks appears to be best, because the three-week moving average provides the largest MSE. O Four weeks appears to be best, because the four-week moving average provides the smallest MSE. O Five weeks appears to be best, because the five-week moving average provides the smallest MSE.

(a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Moving Average Forecast Moving Average Time Series Week Value Forecast 1 17 22 3 20 4 24 5 18 6. 17 7. 21 8 19 9 23 10 21 11 15 12 23 (b) Compute the MSE for the four-week moving average forecasts. (Round your answer to two decimal places.) Compute the MSE for the five-week moving average forecasts. (Round your answer to two decimal places.) (c) What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? MSE for the three-week moving average is 12.58. O Three weeks appears to be best, because the three-week moving average provides the smallest MSE. O Three weeks appears to be best, because the three-week moving average provides the largest MSE. O Four weeks appears to be best, because the four-week moving average provides the smallest MSE. O Five weeks appears to be best, because the five-week moving average provides the smallest MSE.

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
See similar textbooks
icon
Related questions
Question
100%
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks. Sales (1,000s of gallons) Week 1. 17 22 20 4 24 18 6. 17 7 21 8 19 23 10 21 11 15 12 23 (a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Time Series Moving Moving Average Forecast Week Value Average Forecast 1 17 22 20 4 24 5 18 6. 17 2.
Transcribed Image Text:Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks. Sales (1,000s of gallons) Week 1. 17 22 20 4 24 18 6. 17 7 21 8 19 23 10 21 11 15 12 23 (a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Time Series Moving Moving Average Forecast Week Value Average Forecast 1 17 22 20 4 24 5 18 6. 17 2.
(a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Moving Average Forecast Time Series Moving Average Forecast Week Value 1. 17 2 22 20 4 24 5 18 17 7 21 8. 19 23 10 21 11 15 12 23 (b) Compute the MSE for the four-week moving average forecasts. (Round your answer to two decimal places.) Compute the MSE for the five-week moving average forecasts. (Round your answer to two decimal places.) (c) What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? MSE for the three-week moving average is 12.58. O Three weeks appears to be best, because the three-week moving average provides the smallest MSE. O Three weeks appears to be best, because the three-week moving average provides the largest MSE. O Four weeks appears to be best, because the four-week moving average provides the smallest MSE. O Five weeks appears to be best, because the five-week moving average provides the smallest MSE. O None appear better than the others because they all provide the same MSE
Transcribed Image Text:(a) Compute four-week and five-week moving averages for the time series. 4-Week 5-Week Moving Average Forecast Time Series Moving Average Forecast Week Value 1. 17 2 22 20 4 24 5 18 17 7 21 8. 19 23 10 21 11 15 12 23 (b) Compute the MSE for the four-week moving average forecasts. (Round your answer to two decimal places.) Compute the MSE for the five-week moving average forecasts. (Round your answer to two decimal places.) (c) What appears to be the best number of weeks of past data (three, four, or five) to use in the moving average computation? MSE for the three-week moving average is 12.58. O Three weeks appears to be best, because the three-week moving average provides the smallest MSE. O Three weeks appears to be best, because the three-week moving average provides the largest MSE. O Four weeks appears to be best, because the four-week moving average provides the smallest MSE. O Five weeks appears to be best, because the five-week moving average provides the smallest MSE. O None appear better than the others because they all provide the same MSE
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 5 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS