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) moving averages modeling
C) Laspeyres price index modeling
D) least-squares forecasting with monthly or quarterly data

Question

Quizplus · Accepted Answer

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

A Paso Robles Wine Producer Wanted to Forecast the Cases