(Steps Shown) Refer to the gasoline sales time series data in Table 15.1. Compute the four-week and five-week moving average for the time series. Compute
Question: Refer to the gasoline sales time series data in Table 15.1.
- Compute the four-week and five-week moving average for the time series.
- Compute the MSE for the four-week and five-week moving average forecasts.
- What appears to be the best number of weeks of past data (three, four or five) to use in the moving average computation? Recall that MSE for three-week moving average is 10.22.
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