Answer to Question #340208 in Statistics and Probability for Mel

Question

Given the data below for the actual sale of cases of beer for eight days (Sunday – Sunday)

ANSWER

 

MONTH

Actual SALE OF CASES OF BEER

 

 

 

 

 

 

Sun

440

 

 

 

 

 

 

Mon

650

 

 

 

 

 

 

Tue

652

 

 

 

 

 

 

Wed

550

 

 

 

 

 

 

Thu

456

 

 

 

 

 

 

Fri

421

 

 

 

 

 

 

Sat

652

 

 

 

 

 

 

Sun

587

 

 

 

 

 

 

Monday

????

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)​Forecast using a 4 month simple moving average, 3 month weighted moving average ​(using ​weights of 4, 3, and 1, respectively), and an exponential smoothing at alpha = 0.27​​​​​​​​​​​​(9 marks)

(b)​Using the MAD Error Analysis, determine which forecast is preferred.​​(9 marks)​​

(c)​Use the preferred method to forecast Monday of the following Week.​​(2 marks)

Answer 1

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