Question
Refer to the gasoline sales time series data in the given table. Click on the datafile...
|
Refer to the gasoline sales time series data in the given table. Click on the datafile logo to reference the data.
|
Homework Answers
Answer #1
a)first of all calculating the 4 week moving average as shown in below table and computing the squared error as follows:
| Week | Time Series Value (Sales) | Computation for MA | 4 period MA | Error (Sales - MA ) | Error^2 |
| 1 | 17 | ||||
| 2 | 21 | ||||
| 3 | 19 | ||||
| 4 | 23 | ||||
| 5 | 18 | (17+21+19+23)/4 = | 20 | -2 | 4 |
| 6 | 16 | (21+19+23+18)/4 = | 20.25 | -4.25 | 18.06 |
| 7 | 20 | (19+23+18+16)/4 = | 19 | 1 | 1 |
| 8 | 18 | (23+18+16+20)/4 = | 19.25 | -1.25 | 1.56 |
| 9 | 22 | (18+16+20+18)/4 = | 18 | 4 | 16 |
| 10 | 20 | (16+20+18+22)/4 = | 19 | 1 | 1 |
| 11 | 15 | (20+18+22+20)/4 = | 20 | -5 | 25 |
| 12 | 22 | (18+22+20+15)/4 = | 18.75 | 3.25 | 10.56 |
| Total | 77.18 | ||||
| Average | 9.65 |
the following is the five week moving average and computation of error
| Week | Time Series Value (Sales) | Computation for MA | 5 period MA | Error (Sales - MA ) | Error^2 |
| 1 | 17 | ||||
| 2 | 21 | ||||
| 3 | 19 | ||||
| 4 | 23 | ||||
| 5 | 18 | ||||
| 6 | 16 | (17+21+19+23+18)/5 = | 19.6 | -3.6 | 12.96 |
| 7 | 20 | (21+19+23+18+16)/5 = | 19.4 | 0.6 | 0.36 |
| 8 | 18 | (19+23+18+16+20)/5 = | 19.2 | -1.2 | 1.44 |
| 9 | 22 | (23+18+16+20+18)/5 = | 19 | 3 | 9 |
| 10 | 20 | (18+16+20+18+22)/5 = | 18.8 | 1.2 | 1.44 |
| 11 | 15 | (16+20+18+22+20)/5 = | 19.2 | -4.2 | 17.64 |
| 12 | 22 | (20+18+22+20+15)/5 = | 19 | 3 | 9 |
| Total | 51.84 | ||||
| Average | 7.41 |
b) mean squared error for 4 week
Mean squared error =MSE = 
=77.18/(12-4) = 77.18/8 = 9.65
mean squared error for 4 week = 9.65
MSE for 5 week moving average
MSE=
=51.84/(12-5) =51.84/7 =7.41
mean squared error for 5 week = 7.41
c) Five weeks appears to be best, because the five-week moving average provides the smallest MSE.
since mse for 5 week moving average is less so it is recommended to use 5 week moving average.
********************************************************************************************************************
In case of any doubt do ask in the comment section
Not the answer you're looking for?
Similar Questions
Refer to the gasoline sales time series data in the given table. Week Sales (1,000s of...
Refer to the gasoline sales time series data in the given
table.
Week
Sales (1,000s of gallons)
1
16
2
22
3
17
4
23
5
15
6
17
7
21
8
19
9
20
10
18
11
15
12
23
(a)
Compute four-week and five-week moving averages for the time
series.
If required, round your answers to two decimal places.
Week
Sales
4 Period
Moving Average
5 period
Moving Average
1
16
2
22
3
17
4
23
5...
Refer to the gasoline sales time series data in Table 8.1. Compute four-week and five-week moving...
Refer to the gasoline sales time series data in Table 8.1.
Compute four-week and five-week moving averages for the time
series. Compute the MSE for the four-week and five-week moving
average forecasts. What appears to be the best number of weeks of
past data (three, four, or five) to use in the moving average
computation? Recall that the MSE for the three-week moving average
is 10.22.
Week
Sales (1000s of gallons)
1
17
2
21
3
19
4
23
5...
Problem 15-07 (Algorithmic) Refer to the gasoline sales time series data in the given table. Week...
Problem 15-07 (Algorithmic)
Refer to the gasoline sales time series data in the given
table.
Week
Sales (1000s of gallons)
1
17
2
21
3
19
4
24
5
18
6
15
7
21
8
19
9
22
10
21
11
16
12
22
Compute four-week and five-week moving averages for the time
series. Round your answers to two decimal places.
Week
Sales
4-Week
Moving Average
5-Week
Moving Average
1
17
2
21
3
19
4
24
5
18
6...
Refer to the gasoline sales time series data in the given table. Week Sales (1000s of...
Refer to the gasoline sales time series data in the given
table.
Week
Sales (1000s of gallons)
1
18
2
21
3
18
4
22
5
17
6
15
7
20
8
18
9
21
10
20
11
14
12
22
Compute four-week and five-week moving averages for the time
series. Round your answers to two decimal places.
Week
Sales
4-Week
Moving Average
5-Week
Moving Average
1
18
2
21
3
18
4
22
5
17
6
15
7
20...
Refer again to the gasoline sales time series data in the following table. Week Sales (1000s...
Refer again to the gasoline sales time series data in the
following table.
Week
Sales (1000s of gallons)
1
18
2
22
3
20
4
26
5
18
6
17
7
21
8
19
9
23
10
23
11
16
12
24
Using a weight of 1/2 for the most recent observation, 1/3 for
the second most recent, and 1/6 for third most recent, compute a
three-week weighted moving average for the time series. Use rounded
for two decimal places...
These data show the number of gallons of gasoline sold by a gasoline distributor in Bennington,...
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 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
1
17
2
21
3
19...
Consider the following gasoline sales time series data. Click on the datafile logo to reference the...
Consider the following gasoline sales time series data. Click on
the datafile logo to reference the data.
Week
Sales (1000s of gallons)
1
16
2
20
3
19
4
23
5
19
6
15
7
19
8
17
9
23
10
20
11
15
12
21
a. Using a weight of (1/2) for the most recent
observation, (1/3) for the second most recent observation, and
(1/6) third the...
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in...
Suppose 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
18
8
16
9
20
10
18
11
13
12
20
(a) Using a weight of 1/2 for the most recent observation, 1/3
for the second most recent observation, and 1/6 for third most
recent observation, compute a three-week...
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in...
Suppose 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
15
2
19
3
17
4
21
5
16
6
14
7
22
8
20
9
24
10
22
11
17
12
24
(a)Using a weight of 1/2 for the most recent observation, 1/3
for the second most recent observation, and 1/6 for third most
recent observation, compute a three-week weighted...
Suppose these data show the number of gallons of gasoline sold by a gasoline distributor in...
Suppose 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
16
2
20
3
18
4
22
5
17
6
15
7
20
8
18
9
22
10
20
11
15
12
22
a) using a weight of 1/2 for the most recent observation, 1/3
for the second most recent observation, and 1/6 for third recent
observation, compute a three-week weighted...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 3 minutes ago
asked 13 minutes ago
asked 25 minutes ago
asked 38 minutes ago
asked 39 minutes ago
asked 43 minutes ago
asked 44 minutes ago
asked 46 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago