Please answer the following: United Dairies, Inc., supplies milkto several independent grocers throughout Dade County, Florida.Managers at United Dairies want to develop a forecast of the numberof half gallons of milk sold per week. Sales data for the past 12weeks are:
Week | Sales |
1 | 2,750 |
2 | 3,100 |
3 | 3,250 |
4 | 2,800 |
5 | 2,900 |
6 | 3,050 |
7 | 3,300 |
8 | 3,100 |
9 | 2,950 |
10 | 3,000 |
11 | 3,200 |
12 | 3,150 |
1. Compute four-week and five-weekmoving averages for the time series.
- Compute the MSE for the four-week and five-week moving averageforecasts.
- What appears to be the best number of weeks of past data(three, four, or five) to use in the moving average computation?The MSE for three weeks is 23527.78
- Show the exponential smoothing forecasts using ? = 0.1.
- Applying the MSE measure of forecast accuracy, would you prefera smoothing constant of ?=0.1 or ?= 0.2 for the United Dairiessales time series?
- Are the results the same if you apply MAE as the measure ofaccuracy?
- What are the results if MAPE is used?
- Use exponential smoothing with a ? = 0.4 to develop a forecastof demand for week 13. What is the resulting MSE?
PLEASE USE EXCEL AND ANSWER EACH PARTOF THE QUESTION. THANKS !
ANSWER- THAT'S WHAT I GOT SO FAR:
| Average=> | 117.19 | 19,238.28 | 3.8% | | 101.43 | 16300.00 | 3.21% |
| MAE | MSE | MAPE | | MAE | MSE | MAPE |
