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.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.1: Measures Of Center
Problem 9PPS
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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.
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