(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.

  1. Compute the four-week and five-week moving average for the time series.
  2. Compute the MSE for the four-week and five-week moving average forecasts.
  3. 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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