United Dairies, Inc., supplies milk to several independent grocers throughout Dade County, Florida. Managers at United Dairies want to develop a forecast of the number of half gallons of milk sold per week. a. Construct a time series plot. What type of pattern exists in the data? b. Use exponential smoothing with α = 0.4 to develop a forecast of demand for week 13. What is the resulting MSE? c. Use a moving average with k = 4 to develop a forecast of demand for week
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Question/ Use the data that i pasted below to answer this question. United Dairies, Inc., supplies milk
to several independent grocers throughout Dade County, Florida. Managers at United
Dairies want to develop a forecast of the number of half gallons of milk sold per week.
a. Construct a time series plot. What type of pattern exists in the data?
b. Use exponential smoothing with α = 0.4 to develop a forecast of demand for week
13. What is the resulting MSE?
c. Use a moving average with k = 4 to develop a forecast of demand for week 13.
What is the resulting MSE?
d. Using the above forecasting techniques, what is the forecasts for the next time
period?
| Week | Sales |
| 1 | 2750 |
| 2 | 3100 |
| 3 | 3250 |
| 4 | 2800 |
| 5 | 2900 |
| 6 | 3050 |
| 7 | 3300 |
| 8 | 3100 |
| 9 | 2950 |
| 10 | 3000 |
| 11 | 3200 |
| 12 | 3150 |
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