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A restaurant wants to forecast its weekly sales. Historical data (in dollars) for fifteen weeks are shown below. Use Excel and the Moving Average template to answer the following questions.   Time   Period Observation 1   1,575 2   1,568 3   1,454 4   1,400 5   1,220 6   1,384 7   1,602 8   1,315 9   1,376 10   1,515 11   1,346 12   1,588 13   1,674 14   1,564 15   1,378   Plot the data and provide insights about the time series. The correct graph is . A.   B.   C.   D.   What is the forecast for week 16, using a two-period moving average? Round your answer to the nearest cent. $   What is the forecast for week 16, using a three-period moving average? Round your answer to the nearest cent. $   Compute MSE for the two- and three-period moving average models to determine the best model. Do not round intermediate calculations. Round your answers to two decimal places.     2-period MA 3-period MA MSE

A restaurant wants to forecast its weekly sales. Historical data (in dollars) for fifteen weeks are shown below. Use Excel and the Moving Average template to answer the following questions.   Time   Period Observation 1   1,575 2   1,568 3   1,454 4   1,400 5   1,220 6   1,384 7   1,602 8   1,315 9   1,376 10   1,515 11   1,346 12   1,588 13   1,674 14   1,564 15   1,378   Plot the data and provide insights about the time series. The correct graph is . A.   B.   C.   D.   What is the forecast for week 16, using a two-period moving average? Round your answer to the nearest cent. $   What is the forecast for week 16, using a three-period moving average? Round your answer to the nearest cent. $   Compute MSE for the two- and three-period moving average models to determine the best model. Do not round intermediate calculations. Round your answers to two decimal places.     2-period MA 3-period MA 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...
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A restaurant wants to forecast its weekly sales. Historical data (in dollars) for fifteen weeks are shown below. Use Excel and the Moving Average template to answer the following questions.

 

Time  
Period Observation
1   1,575
2   1,568
3   1,454
4   1,400
5   1,220
6   1,384
7   1,602
8   1,315
9   1,376
10   1,515
11   1,346
12   1,588
13   1,674
14   1,564
15   1,378

 

  1. Plot the data and provide insights about the time series.

    The correct graph is .

    A.  
    B.  
    C.  
    D.  

  2. What is the forecast for week 16, using a two-period moving average? Round your answer to the nearest cent.

    $  

  3. What is the forecast for week 16, using a three-period moving average? Round your answer to the nearest cent.

    $  

  4. Compute MSE for the two- and three-period moving average models to determine the best model. Do not round intermediate calculations. Round your answers to two decimal places.

     

      2-period MA 3-period MA
    MSE    
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