The following time series shows the sales of supermarket chain over the last six months. Month Sales ($ 000) August 2021 250 Sep 2021 280 Oct 2021 295 Nov 2021 320 Dec 2021 380 Jan 2022 360 Develop a linear trend equation that can be used to forecast sales in Feb 2022. Forecast the sales in Feb 2021 using a three-period weighted moving average designed with the following weights: Nov 2021 weight 0.6, Dec 2021 weight 0.3 and Jan 2022 weight 0.1. Which method (A or B) is the best? Explain why.
The following time series shows the sales of supermarket chain over the last six months. Month Sales ($ 000) August 2021 250 Sep 2021 280 Oct 2021 295 Nov 2021 320 Dec 2021 380 Jan 2022 360 Develop a linear trend equation that can be used to forecast sales in Feb 2022. Forecast the sales in Feb 2021 using a three-period weighted moving average designed with the following weights: Nov 2021 weight 0.6, Dec 2021 weight 0.3 and Jan 2022 weight 0.1. Which method (A or B) is the best? Explain why.
Chapter4: Linear Functions
Section4.3: Fitting Linear Models To Data
Problem 22SE: The U.S. Census tracks the percentage of persons 25 years or older who are college graduates. That...
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The following time series shows the sales of supermarket chain over the last six months.
Month |
Sales ($ 000) |
August 2021 |
250 |
Sep 2021 |
280 |
Oct 2021 |
295 |
Nov 2021 |
320 |
Dec 2021 |
380 |
Jan 2022 |
360 |
- Develop a linear trend equation that can be used to forecast sales in Feb 2022.
- Forecast the sales in Feb 2021 using a three-period weighted moving average designed with the following weights: Nov 2021 weight 0.6, Dec 2021 weight 0.3 and Jan 2022 weight 0.1. Which method (A or B) is the best? Explain why.
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