(a) Compute four-week and five-week moving averages for the time series.4-WeekMovingAverageForecast5-WeekTime SeriesValueMovingAverageForecastWeek1.17222319423186.256172081922102011151222(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 9.23.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. Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks.Sales (1,000sof gallons)Week1172.2231942351861772081922102011151222

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Description: (a) Compute four-week and five-week moving averages for the time series.4-WeekMovingAverageForecast5-WeekTime SeriesValueMovingAverageForecastWeek1.17222319423186.256172081922102011151222(b) Compute the MSE for the four-week moving average forecasts

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(a) Compute four-week and five-week moving averages for the time series. Week Time Series Value 4-Week Moving Average Forecast 5-Week Moving Average Forecast 17 22 3 19 23 5 18 6.25 6 17 20 19 22 10 20 11 15 12 22 1. 2. 00

(a) Compute four-week and five-week moving averages for the time series. Week Time Series Value 4-Week Moving Average Forecast 5-Week Moving Average Forecast 17 22 3 19 23 5 18 6.25 6 17 20 19 22 10 20 11 15 12 22 1. 2. 00

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Concept explainers

Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.

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Question

(a) Compute four-week and five-week moving averages for the time series.
4-Week
Moving
Average
Forecast
5-Week
Time Series
Value
Moving
Average
Forecast
Week
1.
17
2
22
3
19
4
23
18
6.25
6
17
20
8
19
22
10
20
11
15
12
22
(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 9.23.
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.

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
2.
22
3
19
4
23
5
18
6
17
7
20
8
19
22
10
20
11
15
12
22

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