A Paso Robles wine producer wanted to forecast the cases of merlot wine sold. The number of cases of merlot wine sold in a 28-year period was collected. Which of the following would be the most appropriate analysis to perform?
A) the Marascuilo procedure
B) the Tukey-Kramer procedure
C) least-squares forecasting with monthly or quarterly data
D) moving averages modeling

Question

Quizplus · Accepted Answer

Moving averages modeling is appropriate for time series data, such as the number of cases of wine sold over a period, to identify trends and forecast future values.

A Paso Robles Wine Producer Wanted to Forecast the Cases