These data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks. Week Sales (1,000s of gallons) 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 (a) 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.) (b) 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 10.22. - Three weeks appears to be best, because the three-week moving average provides the smallest MSE. - Three weeks appears to be best, because the three-week moving average provides the largest MSE. - Four weeks appears to be best, because the four-week moving average provides the smallest MSE. - Five weeks appears to be best, because the five-week moving average provides the smallest MSE. - None appear better than the others, because they all provide the same MSE.
These data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks. Week Sales (1,000s of gallons) 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 (a) 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.) (b) 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 10.22. - Three weeks appears to be best, because the three-week moving average provides the smallest MSE. - Three weeks appears to be best, because the three-week moving average provides the largest MSE. - Four weeks appears to be best, because the four-week moving average provides the smallest MSE. - Five weeks appears to be best, because the five-week moving average provides the smallest MSE. - None appear better than the others, because they all provide the same MSE.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Topic Video
Question
These data show the number of gallons of gasoline sold by a gasoline distributor in Bennington, Vermont, over the past 12 weeks.
| Week | Sales (1,000s of gallons) |
|---|---|
| 1 | 17 |
| 2 | 21 |
| 3 | 19 |
| 4 | 23 |
| 5 | 18 |
| 6 | 16 |
| 7 | 20 |
| 8 | 18 |
| 9 | 22 |
| 10 | 20 |
| 11 | 15 |
| 12 | 22 |
(a) 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.)
(b)
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 10.22.
- Three weeks appears to be best, because the three-week moving average provides the smallest MSE.
- Three weeks appears to be best, because the three-week moving average provides the largest MSE.
- Four weeks appears to be best, because the four-week moving average provides the smallest MSE.
- Five weeks appears to be best, because the five-week moving average provides the smallest MSE.
- None appear better than the others, because they all provide the same MSE.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 4 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman