Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
$$\begin{array} { | l | c | c | c | c | c | }
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use a 3-period moving average to forecast next day's sales.
b.Use a 3-period weighted moving average to forecast next day's sales.Use Solver to determine the optimal weights.
c.Which one of the above forecasting techniques provides a lower MSE?

Question

Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
 $$\begin{array} { | l | c | c | c | c | c | } 
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use a 3-period moving average to forecast next day's sales.
b.Use a 3-period weighted moving average to forecast next day's sales.Use Solver to determine the optimal weights.
c.Which one of the above forecasting techniques provides a lower MSE?

Quizplus · Accepted Answer

The Answer of Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
 $$\begin{array} { | l | c | c | c | c | c | } 
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use a 3-period moving average to forecast next day's sales.
b.Use a 3-period weighted moving average to forecast next day's sales.Use Solver to determine the optimal weights.
c.Which one of the above forecasting techniques provides a lower MSE?

Use This Information to Answer the Following Questions -Refer to the Table Above