Question
Week Sales (1000s of gallons) 1 16 2 22 3 19 4 ...
| Week | Sales (1000s of gallons) |
| 1 | 16 |
| 2 | 22 |
| 3 | 19 |
| 4 | 24 |
| 5 | 18 |
| 6 | 15 |
| 7 | 19 |
| 8 | 19 |
| 9 | 23 |
| 10 | 20 |
| 11 | 16 |
| 12 | 23 |
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 most recent observation, compute a three-week weighted moving average for the time series (to 2 decimals). Enter negative values as negative numbers.
b. Compute the MSE for the weighted moving average in part (a).
Homework Answers
Answer #1
For calculating forecast for week 4, do (1/2) * 19 + (1/3) * 22 + (1/6) * 16 = 19.50
Error = Sales - Forecast
Similarly for others
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